Concepts Of Gnp, Gdp, Ni, Nnp Jamb Economics Past Questions
Question 1
Gross National Product (GNP) less the provision for the wear and tear of assets is the
- A. net present value
- B. net national product
- C. net factor income
- D. net indirect taxes
Question 2
In a country with large population of full-time house wives, national income
- A. will be composed of goods produced by women
- B. figures will be grossly over-stated
- C. statistics will be difficult to calculate
- D. figures will be grossly under-estimated
Question 3
In an open economy, the GNP is measured as_____________?
- A. C + 1 + G+(X-M)
- B. C + 1 + G
- C. C + 1 + G + X
- D. C + 1 + G + M
Question 4
The most reliable and acceptable index of economic growth is the__________
- A. Wholesale Price Index
- B. Consumer Price Index
- C. National Income
- D. Retailer's Price Index
Question 5
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
