The Concepts of GNP, GDP, NI, NNP - Jamb Economics Past Questions and Answers

Question 16:

• JAMB 1988

Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?

A. Consumption expenditure
B. Indirect taxes
C. Exports and property income from abroad
D. Gross Domestic Fixed Capital Formation

Question 17:

• JAMB 1988

In estimating the national income of a country, the three approaches usually adopted are the?

A. Expenditure, value-added and output
B. Income, final product and output
C. Expenditure,income and output
D. Avoiding of double counting, final expenditure and value added

Question 18:

• JAMB 1989

The difference between gross national product and net national product is equal to?

A. Gross investment
B. Net investment
C. Net foreign income
D. Capital depreciation

Question 19:

• JAMB 1989

The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the?

A. Gross national product
B. Disposable income
C. National income
D. Gross domestic product

Question 20:

• JAMB 1990

The flow labelled Y refers to

A. Real income
B. Factor payment
C. Factor input
D. National income