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WAEC Economics 2012 Objective — Question 34

Question 34 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.

If Y = Income, C = Consumption, I = Investment, X = Export and M = Import, then national income is

A. Y=C−I+(x+m)
B. Y=C+I+(x+m)
C. Y=C+I+(x−m)Correct
D. Y=C+I+(m−x)

Explanation

National income; imports are to be subtracted while we add exports.

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