JAMB - Economics (2019 - No. 49)
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__________
₤ 74,000m
₤ 66,000m
₤ 60,000m
₤ 14,000m
Explanation
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m
Comments (0)
