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The output approach to measuring national income is based on the computation of

Economics
JAMB 2008

The output approach to measuring national income is based on the computation of

  • A. final output
  • B. factor cost
  • C. value added
  • D. profits earned
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Correct Answer: Option C
Explanation

The output approach measures national output called gross domestic products (GDP) in terms of the values added by each of the sectors of the economy. 

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