Neco 2020 Economics Question 17
Practice objective / multiple choice question 17 from the 2020 Neco Economics examination.
The following data are for a closed economy in a given year (all values in \(\text{₦}\) billions): Consumption \(C = 2500\), Investment \(I = 800\), Government spending \(G = 1200\), Exports \(X = 600\), Imports \(M = 500\), Indirect taxes \(T = 300\), Subsidies \(S = 50\), Depreciation \(D = 400\), Net factor income from abroad \(NFI = 120\). Compute the Net National Income at factor cost for the year.
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About This Question
This is Neco 2020 Economics Question 17. It is one of the objective questions from the 2020 Neco Economics examination.
Difficulty level: Medium .
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