National Income - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 1985

The interdependence between households and business enterprises illustrated in the figure is known as

A. Market interaction
B. Cash flow
C. Circular flow of income
D. Supply and demand for goods and services
E. Household preference schedule

Question 42:

• JAMB 1986

The difference between the Gross Domestic Product and the Gross National Product is?

A. Allowance for total depreciation
B. Total interest payments
C. Total tax and interest payments
D. Net income from aboard

Question 43:

• JAMB 1987

Statistical information available in most West African countries suggests that?

A. The marginal propensity to save is high
B. The marginal propensity to consume is high
C. The consumption pattern is negative
D. There exists perfect correlation between consumption and savings

Question 44:

• JAMB 1987

The difference between personal income and personal disposal income is?

A. Personal income tax
B. Investment income
C. Personal savings
D. Consumption expenditure

Question 45:

• JAMB 1988

If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

A. 0.20
B. 0.80
C. 1.25
D. 2.00