National Income - Jamb Economics Past Questions and Answers

Question 36:

• JAMB 1983

Which of the following is NOT include in measuring national income by the income approach?

A. Wages and salaries of public servant
B. Student grants and scholarship
C. Profit of companies
D. Income earned by self employed persons such as lawyers
E. Rents on property

Question 37:

• JAMB 1983

Which of the following is NOT include in measuring national income by the income approach?

A. Wages and salaries of public servant
B. Student grants and scholarship
C. Profit of companies
D. Income earned by self employed persons such as lawyers
E. Rents on property

Question 38:

• JAMB 1984

The production within the domestic territory of a country is called the

A. Net national product
B. Gross domestic product
C. Net income
D. Disposable income
E. Gross national product

Question 39:

• JAMB 1984

The diagram illustrates

A. The circular flow of income
B. Gross national product plus depreciation
C. Incomes of the private sector
D. The profit of business enterprises
E. The output approach to national income determination

Question 40:

• JAMB 1984

In the diagram I refers to the calculation of national income through the

A. Expenditure approach
B. Input - Output approach
C. Flows of funds approach
D. Income approach
E. Output approach