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in a country with large population of full-time housewives, national income 

Economics
WAEC 2018

in a country with large population of full-time housewives, national income 

  • A. will be composed of goods produced by women
  • B. figures will be grossly over-stated
  • C. statistics will be difficult to calculate
  • D. figures will be grossly under-stated
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Correct Answer: Option D
Explanation

National income of a country can be defined as the total market value of all final goods and services produced in the economy in a year.

the income of a housewife is not counted in the National Income or the Gross National Product of the country. This will make the national income under stated

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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995