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UI Post-UTME Economics 2023 (Model questions) Question 18

Question 18

National Income

Which of the following correctly measures Net Domestic Product?

  1. A.GDP less Depreciation
  2. B.GDP plus depreciation
  3. C.GDP less personal income
  4. D.GNP less capital consumption
Show the answer and explanation

Answer: A (GDP less Depreciation)

Explanation

NDP = GDP − depreciation; GNP less capital consumption gives NNP.