National Income - Jamb Economics Past Questions and Answers

Question 106:

• JAMB 2007

Corrections in the GNP figures for price changes require the use of a

A. Retail price index
B. Producer price index
C. Price index
D. Price deflator

Question 107:

• JAMB 2007

In the circular flow of income model, the outflow variables represent

A. Income
B. Expenditure
C. Injections
D. Leakages

Question 108:

• JAMB 2008

The output approach to measuring national income is based on the computation of

A. Final output
B. Factor cost
C. Value added
D. Profits earned

Question 109:

• JAMB 2008

An example of injection into the circular flow of income is

A. Taxes
B. Pensions
C. Imports
D. Exports

Question 110:

• JAMB 2009

In developing countries, it is easier to obtain accurate national income estimates through the

A. GNP
B. GDP
C. NDP
D. NNP