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WAEC Economics 2015 Question 33

Question 33

National Income

In national income accounting, the term net is used to indicate that a value

  1. A.includes income of foreigners
  2. B.excludes income of citizens
  3. C.includes depreciation
  4. D.excludes depreciation.
Show the answer and explanation

Answer: D (excludes depreciation.)

Explanation

'Net' means depreciation has been deducted.