National Income measurements and their problems - Jamb Economics Past Questions and Answers

Question 16:

• JAMB 1982

A good measure of the standard of living usually used for international comparison is

A. Gross natioal income (GNI)
B. Net national income (NNI)
C. Gross national product (GNP)
D. Gross domestic product (GDP)
E. Per capital income (PCI)

Question 17:

• JAMB 1983

Which of the following is NOT include in measuring national income by the income approach?

A. Wages and salaries of public servant
B. Student grants and scholarship
C. Profit of companies
D. Income earned by self employed persons such as lawyers
E. Rents on property

Question 18:

• JAMB 1983

Which of the following is NOT include in measuring national income by the income approach?

A. Wages and salaries of public servant
B. Student grants and scholarship
C. Profit of companies
D. Income earned by self employed persons such as lawyers
E. Rents on property

Question 19:

• JAMB 1984

In the diagram I refers to the calculation of national income through the

A. Expenditure approach
B. Input - Output approach
C. Flows of funds approach
D. Income approach
E. Output approach

Question 20:

• JAMB 1990

The system of measurement of national income as the sum of all final demands is called?

A. Income approach
B. Expenditure approach
C. Value-added
D. Final demands approach