National Income Jamb Economics Past Questions
Question 1
An example of transfer payments in national income accounting is
- A. money transferred to another country
- B. unemployment allowance paid to the citizens
- C. the amount paid to a worker on transfer
- D. transfer of funds from one bank to another
Question 2
Which of the following industries will add more value to primary products?
- A. Service industry
- B. Construction industry
- C. Mining industry
- D. Processing industry
Question 3
The largest component of national income in developing countries consist of
- A. profit
- B. profit and rent
- C. rent
- D. wages and salaries
Question 4
In a capitalist economy, factors of production are owned and controlled by the _____?
- A. Citizen
- B. Business Men
- C. Government
- D. Foreigners
Question 5
The method obtained by adding all the reward of factors of production in national income is________
- A. income approach
- B. expenditure approach
- C. value added method
- D. output approach
