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

Question 31:

• JAMB 2000

Which of the following is used for measuring national income?

A. Output, income and wages
B. Import, expenditure and output
C. Income, output and expenditure
D. Export, Import and output

Question 32:

• JAMB 2002

National Income estimates can be used to?

A. Differentiate between the rich and the poor in a country
B. Prepare a country's annual budget
C. Protect the level of a country's economic develompent
D. Compare a country's growth rate with that of another over a period of time

Question 33:

• JAMB 2006

In computing national income, transfers are excluded because

A. They are received only by the poor
B. The figures reduce the size of national income
C. It is difficult to get the exact figures
D. They are not payments for productive activities

Question 34:

• JAMB 2007

A continuous increase in national income accompanied by the structural transformation of all indices is called

A. Economic planning
B. Economic growth
C. Economic reforms
D. Economic development

Question 35:

• JAMB 2008

The output approach to measuring national income is based on the computation of

A. Final output
B. Factor cost
C. Value added
D. Profits earned