Gce Model Questions Vol1 2021 Economics Question 19

Practice objective / multiple choice question 19 from the 2021 Gce Model Questions Vol1 Economics examination.

Gce Model Questions Vol1 2021 Economics Objective / Multiple Choice Medium Difficulty
Question 19 GCE_MODEL_QUESTIONS_VOL1 • 2021 • ECONOMICS • objective

Country X reports a GDP of \(\text{₦}8{,}000\) million. Net factor income from abroad is \(\text{‑}200\) million and depreciation (consumption of fixed capital) amounts to \(\text{₦}500\) million. The population is 4 million.\n(a) Compute Gross National Product (GNP).\n(b) Compute Net Domestic Product (NDP).\n(c) Find per‑capita NDP (in ₦).

Answer Options

Correct Answer A. GNP = ₦7,800 million; NDP = ₦7,300 million; per‑capita NDP = ₦1,825
B. GNP = ₦8,000 million; NDP = ₦7,500 million; per‑capita NDP = ₦1,875
C. GNP = ₦7,600 million; NDP = ₦7,100 million; per‑capita NDP = ₦1,775
D. GNP = ₦7,700 million; NDP = ₦7,200 million; per‑capita NDP = ₦1,800
Correct Answer
A
Correct Option:
GNP = ₦7,800 million; NDP = ₦7,300 million; per‑capita NDP = ₦1,825

About This Question

This is Gce Model Questions Vol1 2021 Economics Question 19. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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