Neco 2019 Economics Question 16
Practice objective / multiple choice question 16 from the 2019 Neco Economics examination.
The economy recorded a nominal GDP of ₦15,000 billion in 2019. The GDP deflator for that year is 125 (base year = 100). Depreciation of capital stock amounted to ₦1,200 billion, net factor income from abroad was a credit of ₦300 billion, and indirect taxes collected were ₦800 billion. Calculate the Real National Income for 2019 (in billion Naira) using the relationships \( \text{Real GDP}= \frac{\text{Nominal GDP}}{\text{Deflator}/100} \) and \( \text{NNI}= \text{Real GDP}-\text{Depreciation}+\text{Net factor income} \) and \( \text{NI}= \text{NNI}-\text{Indirect taxes} \).
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About This Question
This is Neco 2019 Economics Question 16. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Medium .
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