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

Question 21:

• JAMB 1991

It is important to measure the National Income of a country because?

A. It is a major determinant of the standard of living
B. It reveals hazards of development like pollution and congestion
C. It reveals the distribution of the citizen's savings in foreign banks
D. Its size determines the extent of political stability

Question 22:

• JAMB 1991

The value of total output in the economy using the value added approach is

A. N57.00
B. 37.00
C. 20.00
D. 15.00

Question 23:

• JAMB 1992

In national income accounting, aggregate saving in any year is defined as?

A. All disposable income not spent on consumption
B. All savings deposits in all banks during the year
C. All savings and time deposits in all banks during the year
D. The value of inventory change for the year

Question 24:

• JAMB 1993

According to the income approach to national income measurement, the national income of a country is equal to?

A. The value of all output produced in the country over the relevant period of time at market prices
B. The value of output at factors cost
C. The value added to production
D. C +I + G

Question 25:

• JAMB 1993

The best index for international comparison of standards of living is the?

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