National Income - Jamb Economics Past Questions and Answers

Question 116:

• JAMB 2011

In national income accounts, an item counted as part of government spending is

A. Salaries and wages
B. Pension
C. Scholarship
D. Social welfare

Question 117:

• JAMB 2011

If aggregate demand is lower than total output in an economy national income will

A. Be constant
B. Be at equilibrium
C. Increase
D. Fall

Question 118:

• JAMB 2011

If real income increases while nominal income remains the same, it can be inferred that

A. Unemployment rate has decreased
B. General prices has fallen
C. Employment rate has risen
D. General prices have risen

Question 119:

• JAMB 2012

Net National Product is derived by deducting

A. Net exports from GNP
B. Subsidies from GDP
C. Taxes from GDP
D. Depreciation from GNP

Question 120:

• JAMB 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
The multiplier is

A. 8
B. 4
C. 3
D. 2