National Income - Jamb Economics Past Questions and Answers

Question 71:

• JAMB 1993

The GDP of Nigeria will be greater than her GNP if?

A. The value of goods and services to Nigeria is greater than the value of those from Nigeria
B. Consumption is greater than investment
C. Government expenditures are greater than the foreign aid received
D. The value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria

Question 72:

• JAMB 1993

The GDP of Nigeria will be greater than her GNP if?

A. The value of goods and services to Nigeria is greater than the value of those from Nigeria
B. Consumption is greater than investment
C. Government expenditures are greater than the foreign aid received
D. The value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria

Question 73:

• JAMB 1993

In the diagram, the marginal propensity to consume (MPC) is equal to

A. \(\frac{RP}{TP}\)
B. \(\frac{TP}{RP}\)
C. \(\frac{RT}{RP}\)
D. \(\frac{RT}{TP}\)

Question 74:

• JAMB 1993

Using the table calculate the net income

A. N58m
B. N54m
C. N50m
D. N46m

Question 75:

• JAMB 1994

The circular flow of income defines the?

A. Relationship between ends and means in the economic system
B. Allocation of income to various members of the household
C. Flow of goods, services amd money among the various micro-sectors of the economy
D. Micro-economic relationships in economic analysis