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JAMB Economics 2002 Question 15

Question 15

National Income

If the country's GNP in the current year is ₦65 billion and the GNP in the base year ₦50 billion, the GNP deflator is

  1. A.130.0
  2. B.30.0
  3. C.15.0
  4. D.1.3
Show the answer and explanation

Answer: A (130.0)

Explanation

GNP deflator = current-year GNP ÷ base-year GNP × 100 = 65 ÷ 50 × 100 = 130.