Use the following information given to answer t... - JAMB Economics 2019 Question
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__________
A
₤ 74,000m
B
₤ 66,000m
C
₤ 60,000m
D
₤ 14,000m
correct option: b
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m
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