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JAMB Economics 1993 Question 39

Question 39

National Income

Items (N m):
1. Wages and Salaries: 38.0
2. Profits and Rents: 11.0
3. Payments to foreigners on assets held in Nigeria: 1.0
4. Income from foreign assets held by Nigerians resident abroad: 2.0
5. Depreciation: 4.0
Using the table above, calculate the net income.

  1. A.N58m
  2. B.N54m
  3. C.N50m
  4. D.N46m
Show the answer and explanation

Answer: D (N46m)

Explanation

Factor incomes 38 + 11 = 49; add net income from abroad (2 − 1 = 1) to get 50; subtract depreciation 4 to get net income of N46m.