Neco Model Questions Vol1 2020 Economics Question 48

Practice objective / multiple choice question 48 from the 2020 Neco Model Questions Vol1 Economics examination.

Neco Model Questions Vol1 2020 Economics Objective / Multiple Choice Medium Difficulty
Question 48 NECO_MODEL_QUESTIONS_VOL1 • 2020 • ECONOMICS • objective

Given the following data (in billions of Naira): Consumption \( C = 1,200 \), Investment \( I = 300 \), Government spending \( G = 500 \), Exports \( X = 200 \), Imports \( M = 150 \), Net factor income from abroad \( NFIA = -20 \), Depreciation \( D = 80 \), Taxes \( T = 100 \), Transfers \( TR = 50 \), and Net interest payments \( NIP = 30 \). The population is 20 million. Compute (i) GDP at market price, (ii) NDP, (iii) GNP, (iv) NNP, (v) Personal income, and (vi) NNP per capita.

Answer Options

A. GDP = 2,050 billion; NDP = 1,970 billion; GNP = 1,950 billion; NNP = 1,870 billion; Personal income = 1,850 billion; NNP per capita = ₦94,500
B. GDP = 2,050 billion; NDP = 1,970 billion; GNP = 1,940 billion; NNP = 1,860 billion; Personal income = 1,850 billion; NNP per capita = ₦93,500
C. GDP = 2,050 billion; NDP = 1,970 billion; GNP = 1,950 billion; NNP = 1,870 billion; Personal income = 1,860 billion; NNP per capita = ₦93,500
Correct Answer D. GDP = 2,050 billion; NDP = 1,970 billion; GNP = 1,950 billion; NNP = 1,870 billion; Personal income = 1,850 billion; NNP per capita = ₦93,500
Correct Answer
D
Correct Option:
GDP = 2,050 billion; NDP = 1,970 billion; GNP = 1,950 billion; NNP = 1,870 billion; Personal income = 1,850 billion; NNP per capita = ₦93,500

About This Question

This is Neco Model Questions Vol1 2020 Economics Question 48. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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