JAMB Economics 2008 Objective — Question 26

Question 26 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2008 Objective paper, with the correct answer and a full explanation.

The output approach to measuring national income is based on the

A. computation of A. final output
B. factor costCorrect
C. value added
D. profits earned

Explanation

The output approach is based on the computation of factor cost, value added, and profits earned in aggregate.

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