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Which of the following items is not included in measuring national income by the income...

Economics
WAEC 2013

Which of the following items is not included in measuring national income by the income approach?

  • A. Profits of companies
  • B. Rents on property
  • C. Student's grants and scholarships
  • D. Wages and salaries of public servants
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Correct Answer: Option C
Explanation

National income using the income approach is calculated as; National Income = Rent + Wages + Interest + Profit + Mixed-Income.

Student's grants and scholarships are not included in the calculation of national income

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