The Concepts of GNP, GDP, NI, NNP - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2014

Which of the following can be used to measure the Gross National product in an open economy?

A. C+I+G+(X+M)
B. C+I+G+X
C. C+I+G
D. C+I+G+(X-M)

Question 7:

• JAMB 1979

The total value of goods and services sold and bought in a country across its border during a given period, usually a year is known as

A. Visible trade
B. Invisible trade
C. Balance of payments
D. Balance of trade
E. Terms of trade

Question 8:

• JAMB 1979

Net national income is

A. Gross national income minus depreciation
B. Gross domestic product plus net income from abroad
C. Nominal national income divided by the price level
D. Gross national income divided by the total population
E. Gross national product plus subsidies minus indirect taxes

Question 9:

• JAMB 1979

Which of the following is not a component of national income at factor cost?

A. Wages earned by doctor
B. Rent paid to landlords
C. Indirect tax
D. Undistributed company profits
E. Interest on loan

Question 10:

• JAMB 1981

From the above, the Growth Rate of Total National Output or GDP is

A. 6.45%, i.e (25 x 2 + 10 x 5 + 50 x 10 + 15 x 3)/ 100%
B. 20.0%, i.e. (2 + 5 + 10 +3)%
C. 2.95%, i.e (60 x 2 + 10 x 5 + 5 x 10 + 25 x 3)/ 100%
D. 5.0%, i.e,(2 +5 + 10 + 3)/ 4%
E. Not obtainable