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JAMB Economics 1990 Question 45

Question 45

National Income

The system of measurement of national income as the sum of all final demands is called

  1. A.income approach
  2. B.expenditure approach
  3. C.value-added approach
  4. D.final demands approach
Show the answer and explanation

Answer: B (expenditure approach)

Explanation

Adding up spending on final goods and services (consumption, investment, government and net exports) is the expenditure approach.