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71
Net national income is
  • A. Gross national income minus depreciation
  • B. gross domestic product plus net income from abroad
  • C. nominal national income divided by the price level
  • D. gross national income divided by the total population
  • E. gross national product plus subsidies minus indirect taxes
View Answer & Discuss (6) JAMB 1979
72
If Mr A earns N2,000 a year while Mr B earns N8,000 but Mr a pays N200 in tax per annum while Mr B pays N400, such a tax is
  • A. Progressive
  • B. Indirect
  • C. Regressive
  • D. Proportional
  • E. None of the above
View Answer & Discuss (9) JAMB 1979
73
Which of the following is not an asset of a commercial bank?
  • A. cash
  • B. money at call
  • C. treasury bills
  • D. reserve funds
  • E. loans and over-draft
View Answer & Discuss (7) JAMB 1979
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
74
The lowering of the exchange rate between country's currency and other currencies is known as
  • A. the foreign exchange rate
  • B. deflation
  • C. exchange control
  • D. the law of comparative advantage
  • E. None of the above
View Answer & Discuss (4) JAMB 1979
75
When the average physical product curve is rising the marginal physical product is
  • A. below it
  • B. above it
  • C. falling
  • D. zero
  • E. None of the above
View Answer & Discuss (4) JAMB 1979
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts