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WAEC Economics 2018 Question 32

Question 32

National Income

In a country with large population of full-time housewives, national income

  1. A.will be composed of goods produced by women.
  2. B.figures will be grossly over-stated.
  3. C.statistics will be difficult to calculate.
  4. D.figures will be grossly under-estimated.
Show the answer and explanation

Answer: D (figures will be grossly under-estimated.)

Explanation

Housewives' work is unpaid and left out of national income, so the figure understates true output.