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WAEC Economics 2017 Question 34

Question 34

National Income

The formula Y = C + I + G + (X − M) will be appropriate for measuring national income using the

  1. A.income approach.
  2. B.expenditure approach.
  3. C.output approach.
  4. D.factor approach.
Show the answer and explanation

Answer: B (expenditure approach.)

Explanation

C, I, G and net exports are types of spending.