Test Index

WAEC Economics 2024 Paper

Question : 33

Total: 50

Use the table below to answer this question.

Solution:

Concept:

Net National Product (NNP) is calculated by subtracting depreciation from Gross National Product (GNP).

Explanation:

From the table, Gross National Product is

\$400\,\text{m}

Depreciation is

\$100\,\text{m}

Use the formula:

\text{NNP} = \text{GNP} - \text{Depreciation}

\text{NNP} = \$400\,\text{m} - \$100\,\text{m}

\text{NNP} = \$300\,\text{m}

Answer:

Net National Product =

\$300\,\text{m}

Correct option: C.

\$300\,\text{m}

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