National Income - Jamb Economics Past Questions and Answers

Question 91:

• JAMB 2001

In national income accounting, NNP is derived by subtracting from the GNP?

A. Transfer payments
B. Indirect taxes
C. Allowance for wastage
D. Capital consumption

Question 92:

• JAMB 2001

GNP is not a good measure of social welfare because there are unrecorded?

A. Indirect taxes
B. Social costs
C. Government subsidies
D. Transfer payments

Question 93:

• JAMB 2002

National Income estimates can be used to?

A. Differentiate between the rich and the poor in a country
B. Prepare a country's annual budget
C. Protect the level of a country's economic develompent
D. Compare a country's growth rate with that of another over a period of time

Question 94:

• JAMB 2002

If the country's GNP in the current year is N50 billion, and the GNP in the base year N50 billion, the GNP deflector is?

A. 130.0
B. 30.0
C. 15.0
D. 1.3

Question 95:

• JAMB 2002

In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume 0.8. The value of the multiplier is?

A. 2.5
B. 2.6
C. 2.7
D. 2.4