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The Net National Product (NNP) of a country is $50m while the depreciation allowance is...

Economics
WAEC 2023

The Net National Product (NNP) of a country is $50m while the depreciation allowance is $10m. The Gross National Product (GNP) is

  • A. $40m
  • B. $60m
  • C. $30m
  • D. $500m
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Correct Answer: Option B
Explanation

GNP = NNP + Depreciation Allowance

In this case, the NNP is $50m and the depreciation allowance is $10m. Therefore, the GNP is:

GNP = $50m + $10m = $60m

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789