National Income - Jamb Economics Past Questions and Answers

Question 16:

• JAMB 2016

The major characteristics of an undeveloped nation is

A. Over-dependence on foreign products
B. Dominance of the industrial sector
C. High per capita income
D. Efficient and sensitive financial sector

Question 17:

• JAMB 2015

Disposable income is total income

A. Less tax
B. Divided by tax
C. Plus tax
D. Multiplied by tax

Question 18:

• JAMB 2015

What does the accelerator principles state?

A. Consumption is a function of the rate of change of income
B. Income is a function of the rate of change of investment
C. Investment is a function of the rate of change of income
D. Investment is a function of the rate of interest

Question 19:

• JAMB 2015

The income of an individual increases from N150 to N250 and his consumption rate increases from N100 to N150. Calculate the Marginal Propensity to Consume

A. 2
B. 0.4
C. 1
D. 0.5

Question 20:

• JAMB 2015

The following equations relate to an open economy with a government sector. E = aggregate expenditure on domestically produced goods, C = Consumption, I = Investment, G = Government expenditure, T = taxes, M = imports, X = Exports. Which equation is correct

A. E = C + I + G
B. E = C + I + G + M – X
C. E = C + I + G + X – M
D. E = C + I + G – T + M – X