WAEC Economics 2013 Objective — Question 47
Question 47 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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Which of the following items is not included in measuring national income by the income approach?
- A. profits of companies
- B. Rents on property
- C. Students' grants and scholarshipsCorrect
- D. Wages and salaries of public servants
Explanation
Students' grants and scholarships are not direct rewards for participation in production and would cause double counting if included, so they are excluded from national income by the income approach.
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