National Income - Jamb Economics Past Questions and Answers

Question 26:

• JAMB 1978

Disposable income is the same thing as

A. Personal income minus personal savings
B. Personal inome minus taxes
C. National income minus depriciation
D. Exports minus imports
E. Savings plus investments

Question 27:

• JAMB 1979

The total value of goods and services sold and bought in a country across its border during a given period, usually a year is known as

A. Visible trade
B. Invisible trade
C. Balance of payments
D. Balance of trade
E. Terms of trade

Question 28:

• JAMB 1979

Net national income is

A. Gross national income minus depreciation
B. Gross domestic product plus net income from abroad
C. Nominal national income divided by the price level
D. Gross national income divided by the total population
E. Gross national product plus subsidies minus indirect taxes

Question 29:

• JAMB 1979

The proportion of currency in the money supply

A. Is higher in developing countries than advanced countries
B. Is lower in developing countries than advanced countries
C. Is the same in both developing and advanced countries
D. Grows as the economy develope
E. None of the above

Question 30:

• JAMB 1979

Which of the following is not a component of national income at factor cost?

A. Wages earned by doctor
B. Rent paid to landlords
C. Indirect tax
D. Undistributed company profits
E. Interest on loan