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WAEC Economics 2025 Paper
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© africaexams.com
Question : 31
Total: 50
The following data relates to the national income of a country.
Gross domestic product =
2800
N
e
t
f
a
c
t
o
r
i
n
c
o
m
e
f
r
o
m
a
b
r
o
a
d
=
2800 Net factor income from abroad =
2800
N
e
t
f
a
c
t
or
in
co
m
e
f
ro
mab
ro
a
d
=
250
Depreciation =
700
I
n
d
i
r
e
c
t
t
a
x
e
s
=
700 Indirect taxes =
700
I
n
d
i
rec
tt
a
x
es
=
120 Use it to answer questions 31 and 32 What is the country's Gross National Product (GNP)?
$2,680
$2,100
$2,350
$3,050
Validate
Solution:
Gross National Product (GNP) is calculated by adding the Gross Domestic Product (GDP) and the Net Factor Income from Abroad.
So, GNP = GDP + Net Factor Income from Abroad =
2800
+
2800 +
2800
+
250 = $3050.
© africaexams.com
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