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

Question 36:

• JAMB 2004

In an open economy, the GNP is measured as

A. C+I+G+X
B. C+I+G+(X-M)
C. C+I+G+M
D. C+I+G

Question 37:

• JAMB 2004

GDP differs from GNP because GDP

A. Is inclusive of depreciation
B. Emphasizes the final goods and service produced within the country at a particular period
C. Emphasizes the goods and services within the country
D. Emphasizes the market value of all final goods and services produced by nationals

Question 38:

• JAMB 2005

In a particular year, the sum of the value added in each sector of the economy was N4550 million
The amount represents the GNP measured by the

A. Factor-price approach
B. Output approach
C. Income approach
D. Expenditure approach

Question 39:

• JAMB 2007

Corrections in the GNP figures for price changes require the use of a

A. Retail price index
B. Producer price index
C. Price index
D. Price deflator

Question 40:

• JAMB 2012

Net National Product is derived by deducting

A. Net exports from GNP
B. Subsidies from GDP
C. Taxes from GDP
D. Depreciation from GNP