National Income - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 2015

\(\begin{array}{c|c}
\text{Capital consumption allowance} & \text{N20,000} \\
\hline
\text{Gross domestic production} & \text{N60,000} \\
\hline
\text{Factor payment to foreigners} & \text{N10,000} \\
\hline
\text{Factor income from abroad} & \text{N15,000} \\
\end{array}\)


From the above table, calculate the Gross National Product.

A. N70,000
B. N75,000
C. N50,000
D. N60,000

Question 22:

• JAMB 2014

What is the percentage contribution of services to the national income?

A. 15%
B. 10%
C. 54%
D. 24%

Question 23:

• JAMB 2014

If the national income is 60m, the contribution of the manufacturing sector is

A. 18m
B. 17m
C. 12m
D. 9m

Question 24:

• JAMB 2014

Which of the following can be used to measure the Gross National product in an open economy?

A. C+I+G+(X+M)
B. C+I+G+X
C. C+I+G
D. C+I+G+(X-M)

Question 25:

• JAMB 2014

If MPC = 2/3 and investment is N100 million, the level of national income is

A. N100 million
B. N10 million
C. N303 million
D. N300 million