Neco 2021 Economics Question 5

Practice objective / multiple choice question 5 from the 2021 Neco Economics examination.

Neco 2021 Economics Objective / Multiple Choice Medium Difficulty
Question 5 NECO • 2021 • ECONOMICS • objective

The following data (in billions of naira) are recorded for a year:\n\nCompensation of employees: 1,200\nGross operating surplus: 450\nGross mixed income: 300\nIndirect taxes: 250\nSubsidies: 70\nDepreciation (consumption of fixed capital): 180\nNet factor income from abroad: -20\n\nCalculate (a) the Gross Domestic Product (GDP) at market prices, and (b) the Net National Income (NNI) at factor cost.

Answer Options

A. GDP = 2,200 billion naira; NNI = 1,820 billion naira
B. GDP = 2,050 billion naira; NNI = 1,690 billion naira
Correct Answer C. GDP = 2,130 billion naira; NNI = 1,770 billion naira
D. GDP = 2,130 billion naira; NNI = 1,950 billion naira
Correct Answer
C
Correct Option:
GDP = 2,130 billion naira; NNI = 1,770 billion naira

About This Question

This is Neco 2021 Economics Question 5. It is one of the objective questions from the 2021 Neco Economics examination.

Difficulty level: Medium .

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