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

Question 36:

• JAMB 2009

In developing countries, it is easier to obtain accurate national income estimates through the

A. GNP
B. GDP
C. NDP
D. NNP

Question 37:

• JAMB 2009

Double counting is a problem in computing national income when using the

A. Expenditure method
B. Income method
C. Output method
D. Value-added method

Question 38:

• JAMB 2009

If the contribution of the oil sector is N3.6 million, what is the contribution of the other sectors?

A. N10.8 million
B. N7.2 million
C. N3.6 million
D. N2.4 million

Question 39:

• JAMB 2010

In national income accounting, tax is determined by the

A. Level of income
B. Level of consumption
C. Level of investment
D. Rate of savings

Question 40:

• JAMB 2010

If MPC is 0.7 while government expenditure increased by N 150m, the equilibrium national income is

A. N 214 million
B. N 45 million
C. N 105 million
D. N 500 million