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

Question 41:

• JAMB 2011

In national income accounts, an item counted as part of government spending is

A. Salaries and wages
B. Pension
C. Scholarship
D. Social welfare

Question 42:

• JAMB 2011

If aggregate demand is lower than total output in an economy national income will

A. Be constant
B. Be at equilibrium
C. Increase
D. Fall

Question 43:

• JAMB 2012

If a basket of commodities cost N120 in the base year and N240 in the current year, calculate the price index

A. 100
B. 200
C. 240
D. 300

Question 44:

• JAMB 2013

A measure of national income used as comparison of standard of living among nations is

A. Net national product
B. Gross domestic product
C. Gross national product
D. Per capita income