Economics JAMB

In national income accounting; tax is determined by the?

A. level of income
B. level of consumption
C. level of investment
D. rate of savings

Correct Answer:

Option A – level of income

Explanation

National income accounting is a double-entry accounting system used by the government to measure how well a country’s economy is performing.

The level of income are the important metrics used to determined tax in national income accounting

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