Question on: JAMB Economics - 2024
Which of the following is NOT included in measuring the National income through the income approach?
A
profit earned by NITEL plc
B
Profit earned by Nigerian bottling company plc
C
Income earned by a bricklayer
D
Allowance given to an aged mother by a civil servant
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Correct Option: D
The income approach sums all incomes earned in an economy: wages, salaries, rent, interest, and profits.
A. Profit earned by NITEL plc – included.
B. Profit earned by Nigerian Bottling Company – included.
C. Income earned by a bricklayer – included.
D. Allowance given to an aged mother by a civil servant – not included because it is a transfer payment, not income earned from production.
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