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WAEC Economics 2023 Paper

Question : 33

Total: 50

\text{50m\$ while the depreciation allowance is \textbackslash}

10m$. The Gross National Product (GNP) is

Solution:

Concept:

Net National Product is measured after deducting depreciation, so adding back depreciation gives Gross National Product.

Explanation:

The formula is

GNP = NNP + \text{Depreciation Allowance}

Given values:

NNP = \$50\text{m}

and Depreciation

= \$10\text{m}

Substitute these values:

GNP = \$50\text{m} + \$10\text{m} = \$60\text{m}

Therefore, the Gross National Product of the country is

\$60\text{m}

Answer:

\$60\text{m}

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