Waec Model Questions Vol1 2023 Economics Question 49

Practice objective / multiple choice question 49 from the 2023 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2023 Economics Objective / Multiple Choice Medium Difficulty
Question 49 WAEC_MODEL_QUESTIONS_VOL1 • 2023 • ECONOMICS • objective

The following data (in billions of naira) are recorded for a given year: wages = 150, rent = 30, interest = 20, profits = 70, indirect taxes = 40, subsidies = 10, depreciation = 25, net factor income from abroad = ‑5. The total population is 5 million. Compute: (a) GDP at market price; (b) GDP at factor cost; (c) GNP; (d) NNP; (e) per‑capita NNP.

Answer Options

Correct Answer A. GDP MP = 300 bn; GDP FC = 270 bn; GNP = 295 bn; NNP = 270 bn; per‑capita NNP = ₦54,000
B. GDP MP = 295 bn; GDP FC = 265 bn; GNP = 290 bn; NNP = 265 bn; per‑capita NNP = ₦53,000
C. GDP MP = 310 bn; GDP FC = 280 bn; GNP = 305 bn; NNP = 280 bn; per‑capita NNP = ₦56,000
D. GDP MP = 300 bn; GDP FC = 260 bn; GNP = 295 bn; NNP = 260 bn; per‑capita NNP = ₦52,000
Correct Answer
A
Correct Option:
GDP MP = 300 bn; GDP FC = 270 bn; GNP = 295 bn; NNP = 270 bn; per‑capita NNP = ₦54,000

About This Question

This is Waec Model Questions Vol1 2023 Economics Question 49. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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