Economics Practice Test – National Income Accounting (Questions with Answers and Explanations)

A country that is overpopulated will face the problem of ______ (JAMB 2016)

A. low birth rate
B. low per capital income
C. high wage rate
D. full employment

In National Income accounting, tax is determined by the ______ (JAMB 2019)

A. level of income
B. level of investment
C. level of consumption
D. rate of savings

Given a consumption function C = 10 + 0.6 Y, determine the value of C if Y is 20. (JAMB 2017)

A. 36.6   B. 22.00   C. 30.60   D. 26.00

The GDP of a country is calculated as _____ (JAMB 2015)

A. gross national product less depreciation
B. gross national product plus net income from abroad
C. net domestic product less depreciation
D net domestic product plus depreciation

Which of the following can be used to measure the Gross National Product in an open economy? (JAMB 2014)

A. C + I + G + (X - M)
B. C + I + G + (X + M)
C. C + I + G + X
D. C + I + G