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2 marksNational Income Accounting

CSEC Economics · May/June 2007 · Paper 2 · Question 1(a)

Section I consists of four compulsory questions covering macroeconomic and microeconomic concepts.

Define the term 'national income'.

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Other parts of this question

  1. 1(b)List THREE factors that affect the national income of a country.[3 marks]
  2. 1(c)Explain TWO factors that may affect the quality of national income statistics.[4 marks]
  3. 1(d)Discuss THREE drawbacks of using the national income as a measure of the standard of living.[6 marks]

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