QUIZES ON LS11-NATIONAL INCOME

The proportion of currency in the money supply

Is higher in developing countries than advanced countries

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Is lower in developing countries than advanced countries

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Is the same in both developing and advanced countries

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Grows as the economy develope

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None of the above

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The pre-dominance of non-working housewives and maids in West Africa

Will understate the national income of the countries

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Will overstate the national income of the countries

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Will lead to constant per capita income over the years

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Will lead to balance of payment deficits

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Will cause unfavourable terms of trade

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A good measure of the standard of living usually used for international comparison is

Gross national income (GNI)

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Net national income (NNI)

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Gross national product (GNP)

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Gross domestic product (GDP)

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Per capital income (PCI)

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Which of the following is NOT include in measuring national income by the income approach?

Wages and salaries of public servant

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Student grants and scholarship

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Profit of companies

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Income earned by self employed persons such as lawyers

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Rents on property

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The method obtained by adding all the reward of factors of production in national income is________

Income approach

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Expenditure approach

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Value added method

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Output approach

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Most of the National debts is “dead weight” in the sense that is____

Bound to increase from year to year

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Accumulated as the result of past capital investment

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The responsibility of the treasury

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Not covered by any real asset

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The following are Methods of measuring National Income of a country EXCEPT; ?

Expenditure method

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Consumption method

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Input Method

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Output method

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Use the following information given to answer this question
Total of all expenditure incurred during the year 80,000m
Indirect taxes on goods and services 8,000m
Capital consumption 6,000m

National income is__________

N74,000m

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N66,000m

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N60,000m

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N14,000m

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The following equations relate to an open economy with a government sector. E = aggregate expenditure on domestically produced goods, C = Consumption, I = Investment, G = Government expenditure, T = taxes, M = imports, X = Exports. Which equation is correct

E = C + I + G

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E = C + I + G + M – X

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E = C + I + G + X -M

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E = C + I + G + T + M -X

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Disposable income is the same thing as

Personal income minus personal savings

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Personal inome minus taxes

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National income minus depriciation

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Exports minus imports

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Savings plus investments

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QUIZES ON LS11-NATIONAL INCOME

QUIZES ON LS11-NATIONAL INCOME

Thomas Bamidele March 1, 2024

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