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National income estimates will be understated as a result of the activities of

Economics
WAEC 2024

National income estimates will be understated as a result of the activities of

  • A. subsistence farmers.
  • B. musicians.
  • C. laundry women.
  • D. housekeepers.
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Correct Answer: Option A
Explanation

A: The activities of subsistence farmers are not quantified in monetary terms. Thus, this will lead to underestimation of the national income.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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