MATRIC NO: E029173
COURSE: ECO 102
Lecturer in Charge: Dr. A. Aminu
CONTINOUS ASSESMENT 1
Question: 1. If the GDP>GNP; it follows that the net factor income from abroad is negative.
Question 2: GDP measures how much a country is producing usually only in a year.
QUESTION 3: Output produced by Nigerian citizens working abroad for a foreign company is not counted in Nigeria’s GDP.
QUESTION 4: Suppose a 25 year old house is sold to Mr. Gbasibe for $5 million and Mr. Gbasibe pays the real estate agent in charge of the sales a commission of one per cent. The contribution of this economic activity to GDP is only $5,050,000.
QUESTION 5: Nominal GDP is the same thing as GDP at constant prices
QUESTION 6: Income earned through illegal activities makes national income to be less.
QUESTION 7: A man who marries his secretary reduces his country’s GNP.
QUESTION 8: Macro stock variables include total bank deposits and investment .
QUESTION 9: Constant gyrations or swings in currency exchange rate is one of the goals of macroeconomics
QUESTION 10: The GNP price index is equally refers to as GNP implicit price deflator
1. Given the following national income data for a hypothetical state of 35 million people. Compute (a) GDP (b) GNP (c) NNP (d) National income and (e) Per capita real GNP.
Income from employment 162.4
Transfer payments 11.0
Gross capital formation 63.2
Indirect business taxes...