The largest component of national income in developing countries consist of?
ECONOMICS
WAEC 2018
The largest component of national income in developing countries consist of?
- A. profits
- B. profit and rent
- C. rent
- D. wages and salaries
Correct Answer: D. wages and salaries
Explanation
The largest component of national income is: compensation of employees. (wages and salaries). National income measures: the market value or cost of the resources used in the production of the national output.
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