National Income - Jamb Economics Past Questions and Answers

Question 56:

• JAMB 1990

The flow labelled Y refers to

A. Real income
B. Factor payment
C. Factor input
D. National income

Question 57:

• JAMB 1990

The lower half of the diagram indicates

A. The flow of goods and services
B. Payments for goods and services
C. The flow of income
D. Government transactions

Question 58:

• JAMB 1990

The lower half of the diagram indicates

A. The flow of goods and services
B. Payments for goods and services
C. The flow of income
D. Government transactions

Question 59:

• JAMB 1991

Personal distribution of income implies?

A. The way in which income is distributed among specific households or spending units
B. The distribution of income according to basic resources
C. Dividing income according to industries
D. Dividing income between personal taxes, consumption expenditures and savings

Question 60:

• JAMB 1991

It is important to measure the National Income of a country because?

A. It is a major determinant of the standard of living
B. It reveals hazards of development like pollution and congestion
C. It reveals the distribution of the citizen's savings in foreign banks
D. Its size determines the extent of political stability