Economics JAMB

In national income accounts; an item counted as part of government spending is?

A. salaries and wages
B. pension
C. scholarship
D. social welfare

Correct Answer:

Option D – social welfare

Explanation

Social welfare refers to a wide range of activities and services by volunteers, non-profit organizations and governmental agencies providing help to needy persons unable to care for themselves. It is part of government expenditure when accounting for national income accounts

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