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JAMB Economics 1994 Question 42

Question 42

National Income

The national income of a country indicates that the gross national income was N17 700 million and gross domestic product was N16 800 million. The difference of N900 million represents

  1. A.debt repayments
  2. B.investments abroad
  3. C.net income from abroad
  4. D.capital consumption
Show the answer and explanation

Answer: C (net income from abroad)

Explanation

GNP − GDP = net factor income from abroad, so the N900 million is net income from abroad.