The Concepts of GNP, GDP, NI, NNP - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 1997

If the marginal propensity to consume is 0.75 and private investment increases by N10 billion while government expenditure decreases by N15 billion, GDP will decrease by?

A. N12 billion
B. N15 billion
C. N20 billion
D. N25 billion

Question 32:

• JAMB 2000

Exclusions that makes Gross National Product a poor measure of welfare are?

A. Goverment purchases
B. Government millitary outlays
C. Wages and salaries
D. Housewives services

Question 33:

• JAMB 2001

In national income accounting, NNP is derived by subtracting from the GNP?

A. Transfer payments
B. Indirect taxes
C. Allowance for wastage
D. Capital consumption

Question 34:

• JAMB 2001

GNP is not a good measure of social welfare because there are unrecorded?

A. Indirect taxes
B. Social costs
C. Government subsidies
D. Transfer payments

Question 35:

• JAMB 2002

If the country's GNP in the current year is N50 billion, and the GNP in the base year N50 billion, the GNP deflector is?

A. 130.0
B. 30.0
C. 15.0
D. 1.3