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The method obtained by adding all the reward of factors of production in national income...

Economics
JAMB 2019

The method obtained by adding all the reward of factors of production in national income is________

  • A. income approach
  • B. expenditure approach
  • C. value added method
  • D. output approach
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Correct Answer: Option A
Explanation

The reward of factors of production are: Rent, Interest, wages & salaries and profit. In national income adding the reward i.e R + I + W + P is used in calculating the income approach.

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