National Income - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 1979

Disposable income equals

A. Personal income less business profits
B. Personal inome minus taxes and subsidies
C. National income less borrowing from abroad
D. National income plus transfer of payments
E. Personal income less taxes plus subsidies

Question 32:

• JAMB 1979

The pre-dominance of non-working housewives and maids in West Africa

A. Will understate the national income of the countries
B. Will overstate the national income of the countries
C. Will lead to constant per capita income over the years
D. Will lead to balance of payment deficits
E. Will cause unfavourable terms of trade

Question 33:

• JAMB 1981

From the above, the Growth Rate of Total National Output or GDP is

A. 6.45%, i.e (25 x 2 + 10 x 5 + 50 x 10 + 15 x 3)/ 100%
B. 20.0%, i.e. (2 + 5 + 10 +3)%
C. 2.95%, i.e (60 x 2 + 10 x 5 + 5 x 10 + 25 x 3)/ 100%
D. 5.0%, i.e,(2 +5 + 10 + 3)/ 4%
E. Not obtainable

Question 34:

• 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 35:

• JAMB 1982

What is the growth rate of GNP?

A. 18%
B. 10%
C. 6.7%
D. 0.5%
E. 4.1%3