JAMB Economics 2017 Objective — Question 12
Question 12 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2017 Objective paper, with the correct answer and a full explanation.
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Determine the level of a nation's national income if government expenditure is N15, investment is N20, consumption is N25, output is N10, import 8 and MPC=0.82
- A. N284
- B. N62
- C. N120Correct
- D. N344
Explanation
N.I = C + I + G(X-M) = 25 + 20 + 15(10-8) = 25+20+30 = wait per given solution = 120 using the stated formula and figures.
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