WAEC Economics 2024 Objective — Question 32
Question 32 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.
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32. National income estimates will be understated as a result of the activities of
- A. subsistence farmers.Correct
- B. musicians.
- C. laundry women.
- D. housekeepers.
Explanation
The activities of subsistence farmers are largely not quantified in monetary terms, leading to under-estimation of national income.
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