Waec Model Questions Vol1 2023 Economics Question 31
Practice objective / multiple choice question 31 from the 2023 Waec Model Questions Vol1 Economics examination.
The following data are given for an economy in a year: GDP at market price = ₦15,000 billion; Net factor income from abroad = -₦500 billion; Depreciation (consumption of fixed capital) = ₦1,200 billion; Indirect taxes = ₦800 billion; Subsidies = ₦200 billion. Calculate the National Income at factor cost for that year (in ₦ billion).
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About This Question
This is Waec Model Questions Vol1 2023 Economics Question 31. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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