Post Utme Elizade University 2022 Economics Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2022 Economics Objective / Multiple Choice
Question 26 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ECONOMICS • objective

Consider a closed economy with a GDP of ₦100 billion, a GNP of ₦120 billion, and a population of 20 million. If the average annual income per capita is ₦5,000, what is the implied value of the implicit deflator?

Answer Options

A. \( \frac{120}{100} \times 100 \)
B. \( \frac{100}{20} \times 5000 \)
Correct Answer C. \( \frac{120}{20} \times 5000 \)
D. \( \frac{100}{20} \times 5000 \)
Correct Answer
C
Correct Option:
\( \frac{120}{20} \times 5000 \)

About This Question

This is Post Utme Elizade University 2022 Economics Question 26. It is one of the objective questions from the 2022 Post Utme Elizade University Economics examination.

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