Neco Model Questions Vol1 2017 Economics Question 12
Practice objective / multiple choice question 12 from the 2017 Neco Model Questions Vol1 Economics examination.
In a closed economy, the following aggregate expenditures (in billions of naira) are recorded for a given year: Consumption \(C = 2,500\), Investment \(I = 800\), Government spending \(G = 1,200\), Exports \(X = 300\), Imports \(M = 350\). Indirect taxes amount to 150 billion naira and subsidies total 50 billion naira. Depreciation (consumption of fixed capital) is 200 billion naira. Assuming net factor income from abroad is zero, calculate the Net National Income (NNI) for that year.
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About This Question
This is Neco Model Questions Vol1 2017 Economics Question 12. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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