Neco 2018 Economics Question 4

Practice objective / multiple choice question 4 from the 2018 Neco Economics examination.

Neco 2018 Economics Objective / Multiple Choice Medium Difficulty
Question 4 NECO • 2018 • ECONOMICS • objective

Given the following macro‑economic data (in billions of naira): Consumption = 500, Investment = 150, Government spending = 200, Exports = 80, Imports = 120, Indirect taxes = 60, Subsidies = 20, Depreciation = 40, Net factor income from abroad = -10. Compute (a) GDP using the expenditure approach, (b) GNP, (c) Net National Product (NNP) at market prices, and (d) NNP at factor cost.

Answer Options

A. GDP = 820, GNP = 800, NNP (market prices) = 760, NNP at factor cost = 720
B. GDP = 810, GNP = 800, NNP (market prices) = 770, NNP at factor cost = 730
Correct Answer C. GDP = 810, GNP = 800, NNP (market prices) = 760, NNP at factor cost = 720
D. GDP = 810, GNP = 790, NNP (market prices) = 750, NNP at factor cost = 710
Correct Answer
C
Correct Option:
GDP = 810, GNP = 800, NNP (market prices) = 760, NNP at factor cost = 720

About This Question

This is Neco 2018 Economics Question 4. It is one of the objective questions from the 2018 Neco Economics examination.

Difficulty level: Medium .

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