National Income - Jamb Economics Past Questions and Answers

Question 121:

• JAMB 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
What is the change in income?

A. N0.5m
B. N1.5m
C. N2.6m
D. N8.0m

Question 122:

• JAMB 2012

If a basket of commodities cost N120 in the base year and N240 in the current year, calculate the price index

A. 100
B. 200
C. 240
D. 300

Question 123:

• JAMB 2012

If the GDP is N60 billion, what is the difference between the contributions of oil and manufacturing sectors?

A. N11.7 billion
B. N13.3 billion
C. N21.7 billion
D. N26.6 billion

Question 124:

• JAMB 2013

A measure of national income used as comparison of standard of living among nations is

A. Net national product
B. Gross domestic product
C. Gross national product
D. Per capita income

Question 125:

• JAMB 2020

If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

A. 0.20
B. 0.80
C. 1.25
D. 2.00