The method obtained by adding all the reward of factors o...
The method obtained by adding all the reward of factors of production in national income is_______
Income approach
Expenditure approach
Value added method
Output approach
Correct answer is A
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.
The curve labeled III illustrate a system of taxation ...
The Nigerian economy can be best described as a ...
One major problem facing West African countries is ...
A consumer's scale of preference is an arrangement of his ...
Since money is demanded for what it can buy, the demand is said to be ...
In a planned economy, what shall be produced is determined primarily by ...
From the above, the Growth Rate of Total National Output or GDP is ...