Gce Model Questions Vol1 2019 Economics Question 9

Practice objective / multiple choice question 9 from the 2019 Gce Model Questions Vol1 Economics examination.

Gce Model Questions Vol1 2019 Economics Objective / Multiple Choice Medium Difficulty
Question 9 GCE_MODEL_QUESTIONS_VOL1 • 2019 • ECONOMICS • objective

Using the income approach, the following components are given (in ₦ million): Compensation of employees 800, Gross operating surplus 300, Gross mixed income 150, Taxes less subsidies on production 120. Net factor income from abroad is -40 million. The population is 5 million. (a) Calculate GDP, (b) GNI, (c) GNI per capita.

Answer Options

A. GDP = ₦1,370 million; GNI = ₦1,370 million; GNI per capita = ₦274
Correct Answer B. GDP = ₦1,370 million; GNI = ₦1,330 million; GNI per capita = ₦266
C. GDP = ₦1,370 million; GNI = ₦1,410 million; GNI per capita = ₦282
D. GDP = ₦1,250 million; GNI = ₦1,210 million; GNI per capita = ₦242
Correct Answer
B
Correct Option:
GDP = ₦1,370 million; GNI = ₦1,330 million; GNI per capita = ₦266

About This Question

This is Gce Model Questions Vol1 2019 Economics Question 9. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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