National Income - Jamb Economics Past Questions and Answers

Question 76:

• JAMB 1994

The national income of a country indicates that the gross domestic production was N17 700 million and gross domestic product was N16 800 million. The difference of N900 million represents?

A. Debt repayment
B. Investments abroad
C. Net income from abroad
D. Capital consumption

Question 77:

• JAMB 1994

If national income rises by 6% and population rises by 3%, per capita income will?

A. Rise by 6 percent
B. Fall by 3 percent
C. Fall by 6 percent
D. Rise by 3 percent

Question 78:

• JAMB 1995

Ajanka, a medical student entitled to an annual allowance of N6,000, decides to leave the university to take up a job where he earns N7,000 per annum. By this singular act, the national income level will?

A. Increase by N1,000
B. Decrease by N 7,000
C. Increase by N7,000
D. Increase by N 13,000

Question 79:

• JAMB 1995

In the circular flow of income above, the direction of flow of payments for consumption purchases is shown by the arrow

A. K
B. L
C. M
D. N

Question 80:

• JAMB 1997

If the marginal propensity to consume is 0.75 and private investment increases by N10 billion while government expenditure decreases by N15 billion, GDP will decrease by?

A. N12 billion
B. N15 billion
C. N20 billion
D. N25 billion