Gce Model Questions Vol1 2022 Economics Question 4
Practice objective / multiple choice question 4 from the 2022 Gce Model Questions Vol1 Economics examination.
In a closed economy the following aggregate expenditures (in billion Naira) are recorded for a year: consumption \(C = 500\), investment \(I = 150\), government spending \(G = 200\), exports \(X = 120\) and imports \(M = 80\). Net factor income from abroad is \(-30\) billion Naira and the statistical discrepancy in the income approach is \(+10\) billion Naira. (a) Calculate GDP using the expenditure approach. (b) Compute GNP. (c) If the population is 50 million, determine GDP per capita.
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This is Gce Model Questions Vol1 2022 Economics Question 4. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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