National Income - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 1989

The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the?

A. Gross national product
B. Disposable income
C. National income
D. Gross domestic product

Question 52:

• JAMB 1989

If C stands for consumption expenditure, I for investment, X for exports, and M for imports, then national income is?

A. C + I + X + M
B. C + I +X - M
C. C + I - X + M
D. C + I + X

Question 53:

• JAMB 1990

If the government invest the sum of N1,000,000.00 and the marginal propensity to consume is 0.75, what is the change in income?

A. N1,000 000.00
B. N4,000 000.00
C. N6,000 000.00
D. N14,000,000.00

Question 54:

• JAMB 1990

The system of measurement of national income as the sum of all final demands is called?

A. Income approach
B. Expenditure approach
C. Value-added
D. Final demands approach

Question 55:

• JAMB 1990

Disposable income is an income which?

A. Is available for consumption and savings
B. Pensioners receive from the government
C. Is payable to the disable members of the community
D. Accures to the environmental sanitation authorites for refuse disposal