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JAMB Economics 1988 Question 45

Question 45

National Income

In estimating the national income of a country, the three approaches usually adopted are the

  1. A.expenditure, value-added and output
  2. B.income, final product and output
  3. C.expenditure, income and output
  4. D.avoidance of double counting, final expenditure and value-added.
Show the answer and explanation

Answer: C (expenditure, income and output)

Explanation

National income is measured by the income, output (product) and expenditure methods.