Economics WAEC

National income is__________?

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__________

A. ₤ 74,000m
B. ₤ 66,000m
C. ₤ 60,000m
D. ₤ 14,000m

Correct Answer: Option B

B. ₤ 66,000m

Explanation

National Income = Expenditure – Indirect taxes – Capital consumption (Depreciation)
N.I = 80,000 – 8,000 – 6,000 = ₤ 66,000m

Sunday

Share
Published by
Sunday
Tags: economics

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago