If Y = income, C = Consumption, I = Investment, X = Export and M...

Economics

WAEC 2012

If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is

A. Y = C - I + (x +m0
B. Y = C + I + (x + m)
C. Y = C +I +(X - M)
D. Y =C + I + (m - x)

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Correct Answer: Option C

Explanation

Since national income is the gross domestic product of a country plus all the wages, salaries of its citizens abroad minus earnings of foreign citizens residing in the said country;

National Income = C + I + X - M (exports - imports)

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If Y = income, C = Consumption, I = Investment, X = Export and M...

Correct Answer: Option C

Explanation

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