The method obtained by adding all the reward of factors of production in national income...
ECONOMICS
JAMB 2019
The method obtained by adding all the reward of factors of production in national income is________
- A. income approach
- B. expenditure approach
- C. value added method
- D. output approach
Correct Answer: A. income approach
Explanation
The reward of factors of production are: Rent, Interest, wages & salaries and profit. In national income adding the reward i.e R + I + W + P is used in calculating the income approach.
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