WAEC Economics 2017 Objective — Question 32
Question 32 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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The value-added method used in measuring national income is to
- A. A. measure output at factor cost
- B. B. avoid multiple counting of outputCorrect
- C. C. deduct depreciation of capital assets
- D. D. add net factor income from abroad
Explanation
Value added approach avoids multiple counting in National Income (NI) as only value added by the firm will be considered.
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