Neco Model Questions Vol1 2017 Economics Question 1
Practice objective / multiple choice question 1 from the 2017 Neco Model Questions Vol1 Economics examination.
An economy reports the following aggregate incomes: wages = \(500\) million, rent = \(200\) million, interest = \(150\) million, and profit = \(250\) million. Indirect taxes less subsidies amount to \(120\) million and depreciation is \(80\) million. Net factor income from abroad is \(30\) million. Calculate the Gross National Product (GNP) of the economy.
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This is Neco Model Questions Vol1 2017 Economics Question 1. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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