8 Questions
What is the formula for calculating per capita income?
National income / Total population
Which of the following best describes Disposable Income?
Income that households have available to spend on consumption after direct taxes.
What does Net National Income represent?
National income minus depreciation.
What does Real GDP measure?
GDP adjusted for changes in price levels.
If an economy is producing a larger output of goods and services, what is likely to happen to Real GDP?
Increase
Which of the following is deducted to calculate Personal Income?
Corporate income taxes
What happens to Disposable Income if Personal Income taxes increase?
Decreases
How is Disposable Income related to Consumption spending?
Disposable Income is used for Consumption spending.
Learn about Nigeria's macroeconomy by exploring concepts such as Gross Domestic Product (GDP), inflation rate, Consumer Price Index (CPI), and unemployment rate. Understand how these factors shape the country's economic landscape.
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