Waec Model Questions Vol1 2021 Economics Question 35
Practice objective / multiple choice question 35 from the 2021 Waec Model Questions Vol1 Economics examination.
The following aggregate income data (in billions of Naira) are recorded for a country in a given year:\n- Compensation of employees: 1,200\n- Gross operating surplus (profits): 800\n- Gross mixed income (self‑employed): 400\n- Indirect taxes: 300\n- Subsidies: 100\n- Depreciation (consumption of fixed capital): 250\n- Net factor income from abroad: -50 (net outflow)\nUsing the income approach, calculate (a) the Gross Domestic Product (GDP) at market prices and (b) the Net National Income (NNI) at factor cost. Provide both results in billions of Naira.
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About This Question
This is Waec Model Questions Vol1 2021 Economics Question 35. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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