Neco 2017 Economics Question 7
Practice objective / multiple choice question 7 from the 2017 Neco Economics examination.
The following data are for a closed economy in a given year: GDP at market price = \(5{,}200\) billion Naira; indirect taxes = \(300\) billion; subsidies = \(50\) billion; depreciation (capital consumption) = \(400\) billion; net factor income from abroad = \(120\) billion. Compute the National Income at factor cost for the year, in billion Naira.
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About This Question
This is Neco 2017 Economics Question 7. It is one of the objective questions from the 2017 Neco Economics examination.
Difficulty level: Medium .
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