Economics
WAEC 2018
The largest component of national income in developing countries consist of?
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A.
profits
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B.
profit and rent
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C.
rent
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D.
wages and salaries
Correct Answer: Option D
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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