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Use the following information given to answer this question Total of all expenditure incurred during...

Economics
JAMB 2019

Use the following information given to answer this question

Total of all expenditure incurred during the year ₤80,000 m
Indirect taxes on goods and services ₤8,000m
Capital consumption ₤6,000m

 

Gross national expenditure at factor cost is_________

  • A. ₤ 88,000μ
  • B. ₤ 82,000μ
  • C. ₤ 74,000μ
  • D. ₤ 72,000μ
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Correct Answer: Option C
Explanation

GNP at cost = Expenditure - Depreciation
⇒ 80,000 - 6,000 = ₤ 74,000μ

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