National Income - Jamb Economics Past Questions and Answers

Question 81:

• JAMB 1997

Given: Investment = N100 million
Consumption = N200 m + 0.75Y
Y = C + I
where, Y =Income, C = Consumption and where
I = Investment
What is the income level to the nearest million?

A. N100 Million
B. N300 Million
C. N1,000 Million
D. N1,200 Million

Question 82:

• JAMB 1997

The total money values of all goods and services produced in a country during a certain period is measured by using the?

A. Income method
B. Expenditure method
C. Output method
D. Factor method

Question 83:

• JAMB 1998

If a country's national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?

A. 5%
B. 15%
C. 20%
D. 100%

Question 84:

• JAMB 1998

A fall in the marginal propensity to save will lead to?

A. A decrease in national income
B. An increase in national income
C. No change in national income
D. An increase in disposable income

Question 85:

• JAMB 1999

When a worker earns more than the wage just sufficient to keep him in his job, the excess income is called?

A. An opportunity cost
B. An economic rent
C. Transfer earnings
D. Surplus value