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WAEC Economics 2004 Question 47

Question 47

National Income

The national income of a country can be estimated by the

  1. A.cost-benefit method
  2. B.distribution method
  3. C.expenditure method
  4. D.consumption method
Show the answer and explanation

Answer: C (expenditure method)

Explanation

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