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JAMB Economics 1979 Question 25

Question 25

National Income

Net national income is

  1. A.gross national income minus depreciation
  2. B.gross domestic product plus net income from abroad
  3. C.nominal national income deflated by the price level
  4. D.gross national income divided by the total population
  5. E.gross national product plus subsidies minus indirect taxes.
Show the answer and explanation

Answer: A (gross national income minus depreciation)

Explanation

Net national income is gross national income less depreciation (capital consumption).