WAEC Economics 2020 Objective — Question 34
Question 34 of 50 from the West African Examinations Council (WAEC) Economics 2020 Objective paper, with the correct answer and a full explanation.
Advertisement
Which of the following factors may lead to under-estimation of national income figures?
- A. Availability of skilled statisticians
- B. High volume of exports
- C. Emigration of skilled workers to foreign countries
- D. Subsistence productionCorrect
Explanation
Subsistence production (goods produced and consumed within the household, not sold in the market) is typically not captured in national income accounts, leading to under-estimation.
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.