WAEC Economics 2019 Objective — Question 33
Question 33 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
Advertisement
Which of the following factors will not underestimate the national income?
- A. rapid decrease in prices
- B. increased subsistence production
- C. practice of specialization of labour
- D. increase in value of services not paid forCorrect
Explanation
Unpaid services are not captured in national income accounting, so increases in unpaid services worsen underestimation of national income; the WAEC key associates this specifically with option D.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.