JAMB - Economics (2024 - No. 36)
The formular used by the Expenditure approach to calculate National income is
Y=C+I+X-M-G
Y=C+I+G+X-M
Y=C+X-M-I+G
Y=C-I+X-M+G
توضیح
The correct answer is Y = C + I +G+X - M.
The formula used by the Expenditure approach to calculate National Income is often referred to as the GDP (Gross Domestic Product) formula. This formula measures the total expenditure or spending in an economy and is derived from the components of expenditure.
The formula used by the Expenditure approach to calculate National Income is often referred to as the GDP (Gross Domestic Product) formula. This formula measures the total expenditure or spending in an economy and is derived from the components of expenditure.