Waec Model Questions Vol1 2017 Economics Question 37

Practice objective / multiple choice question 37 from the 2017 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2017 Economics Objective / Multiple Choice Medium Difficulty
Question 37 WAEC_MODEL_QUESTIONS_VOL1 • 2017 • ECONOMICS • objective

In a given year the following macro‑economic data were recorded for a country: - GDP at market price = ₦5,200 billion - Net factor income from abroad = ₦120 billion (positive) - Indirect taxes net of subsidies = ₦300 billion - Depreciation (consumption of fixed capital) = ₦400 billion - Population = 25 million Calculate: (a) National Net Product (NNP) at factor cost (in ₦ billion). (b) National Income per capita (in ₦).

Answer Options

A. NNP at factor cost = 4,600 billion ₦; per‑capita National Income = 184,000 ₦
B. NNP at factor cost = 4,200 billion ₦; per‑capita National Income = 168,000 ₦
Correct Answer C. NNP at factor cost = 4,500 billion ₦; per‑capita National Income = 184,800 ₦
D. NNP at factor cost = 4,800 billion ₦; per‑capita National Income = 192,000 ₦
Correct Answer
C
Correct Option:
NNP at factor cost = 4,500 billion ₦; per‑capita National Income = 184,800 ₦

About This Question

This is Waec Model Questions Vol1 2017 Economics Question 37. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

View More Waec Model Questions Vol1 2017 Economics Questions More Waec Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support