JAMB Economics 2019 Objective — Question 8

Question 8 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2019 Objective paper, with the correct answer and a full explanation.

If a country's GNP in the current year is ₦65 billion and the GNP in the base year is ₦50 billion, the GNP deflator is

A. 130.0Correct
B. 30.0
C. 15.0
D. 13.0

Explanation

GNP Deflator = (Nominal GNP/Real GNP) × 100 = (₦65bn/₦50bn) × 100 = 130. It measures the percentage change in prices by comparing the current GNP to a base period.

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