JAMB Economics Past Questions & Answers - Page 340

1,696.

A sustained increase in the per capita income of a country over a period of time is called

A.

Economic growth

B.

Economic development

C.

Structural change

D.

Stagflation

Correct answer is A

No explanation has been provided for this answer.

1,697.

If C stands for consumption expenditure, I for investment, X for exports, and M for imports, then national income is

A.

C + I + X + M

B.

C + I +X - M

C.

C + I - X + M

D.

C + I + X

Correct answer is B

No explanation has been provided for this answer.

1,698.

The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the

A.

Gross national product

B.

Disposable income

C.

National income

D.

Gross domestic product

Correct answer is D

No explanation has been provided for this answer.

1,699.

The difference between gross national product and net national product is equal to

A.

Gross investment

B.

Net investment

C.

Net foreign income

D.

Capital depreciation

Correct answer is D

No explanation has been provided for this answer.

1,700.

The group of people engaged in banking or insurance services by occupational distributions are classified as

A.

Primary producers

B.

Secondary producers

C.

Tertiary producers

D.

Technical producers

Correct answer is C

No explanation has been provided for this answer.