Nigeria's Macroeconomy: GDP, Inflation, CPI, Unemployment Rate
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Questions and Answers

What is the formula for calculating per capita income?

  • Total population - National income
  • National income + Total population
  • Total population / National income
  • National income / Total population (correct)

    • Which of the following best describes Disposable Income?

  • Income that households have before corporate income taxes.
  • Income that households have available to spend on consumption after direct taxes. (correct)
  • Income that households have available to spend on consumption after indirect business taxes.
  • Income that households have available to save after personal income taxes.

    • What does Net National Income represent?

  • National income minus personal income taxes.
  • National income plus personal income taxes.
  • National income plus retained earnings.
  • National income minus depreciation. (correct)

    • What does Real GDP measure?

    <p>GDP adjusted for changes in price levels.</p> Signup and view all the answers

    If an economy is producing a larger output of goods and services, what is likely to happen to Real GDP?

    <p>Increase</p> Signup and view all the answers

    Which of the following is deducted to calculate Personal Income?

    <p>Corporate income taxes</p> Signup and view all the answers

    What happens to Disposable Income if Personal Income taxes increase?

    <p>Decreases</p> Signup and view all the answers

    How is Disposable Income related to Consumption spending?

    <p>Disposable Income is used for Consumption spending.</p> Signup and view all the answers

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