The value of total output in the economy using the value added approach is
ECONOMICS
JAMB 1991
The value of total output in the economy using the value added approach is
- A. N57.00
- B. 37.00
- C. 20.00
- D. 15.00
Correct Answer: C. 20.00
Explanation
The Value of the total output in the economy will be gotten by adding all the values of the output and subtracting its intermediate consumption (the goods and services used to produce the output) to derive its value-added. That means, output - input
Value of output = 10 + 12 + 15 + 20 - (10 + 12 + 15)=
57 - 37 = 20
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