Waec Model Questions Vol1 2019 Economics Question 3
Practice objective / multiple choice question 3 from the 2019 Waec Model Questions Vol1 Economics examination.
The following data (in billions of Naira) are recorded for a year: Consumption = 2,500, Investment = 800, Government spending = 1,200, Exports = 600, Imports = 900, Indirect taxes net of subsidies = 300, Depreciation = 250, Net factor income from abroad = -50. Using the income approach, where GDP = Compensation of employees + Gross operating surplus + Gross mixed income + Indirect taxes - subsidies, and given Compensation of employees = 1,800, Gross operating surplus = 500, Gross mixed income = 400, compute the Gross Domestic Product (GDP) and then the Gross National Income (GNI). Express GNI in billions of Naira.
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This is Waec Model Questions Vol1 2019 Economics Question 3. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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