In calculating the Gross National Product (GNP) by the income approach, all the following are included except

Assessment: JAMB UTME - Economics - 2025 Subject: Economics

Question 1 Report

In calculating the Gross National Product (GNP) by the income approach, all the following are included except

Answer Details

The income approach to calculating Gross National Product (GNP) includes all income earned by the factors of production, i.e.,
rent, wages, interest, and profit. Direct taxes paid by persons and companies are not included in the calculation of GNP. Therefore,
the correct answer is 'direct taxes paid by persons and companies'.

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