Waec Model Questions Vol1 2019 Economics Question 13
Practice objective / multiple choice question 13 from the 2019 Waec Model Questions Vol1 Economics examination.
Using the income approach, compute the Gross Domestic Product (GDP) and Gross National Product (GNP) for a country with the following annual data (in billions of naira):\n- Wages: 150\n- Rent: 30\n- Interest: 20\n- Profits: 50\n- Indirect taxes net of subsidies: 40\n- Depreciation (consumption of fixed capital): 25\n- Net factor income from abroad: -5 (net outflow)\nProvide both GDP and GNP values.
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About This Question
This is Waec Model Questions Vol1 2019 Economics Question 13. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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