Waec Model Questions Vol1 2025 Economics Question 50

Practice objective / multiple choice question 50 from the 2025 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2025 Economics Objective / Multiple Choice Medium Difficulty
Question 50 WAEC_MODEL_QUESTIONS_VOL1 • 2025 • ECONOMICS • objective

In a given year the following aggregate data (in billions of naira) are recorded: Consumption C = 1,200; Investment I = 300; Government spending G = 500; Exports X = 400; Imports M = 350; Net factor income from abroad (NFIA) = -20; Depreciation D = 150. The base‑year price index is 100 and the current‑year price index is 110. Compute (a) nominal GDP, (b) real GDP, (c) GNP, and (d) NNP (net national product) in current prices.

Answer Options

A. Nominal GDP = 2,150; Real GDP ≈ 1,864; GNP = 2,130; NNP = 1,980 (all in billions naira)
B. Nominal GDP = 2,050; Real GDP ≈ 1,864; GNP = 2,010; NNP = 1,860 (all in billions naira)
C. Nominal GDP = 2,050; Real GDP ≈ 1,950; GNP = 2,030; NNP = 1,880 (all in billions naira)
Correct Answer D. Nominal GDP = 2,050; Real GDP ≈ 1,864; GNP = 2,030; NNP = 1,880 (all in billions naira)
Correct Answer
D
Correct Option:
Nominal GDP = 2,050; Real GDP ≈ 1,864; GNP = 2,030; NNP = 1,880 (all in billions naira)

About This Question

This is Waec Model Questions Vol1 2025 Economics Question 50. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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