2019 NABTEB GCE Economics Questions and Answers

National Examination Council, NABTEB GCE Economics Questions and Answers for 2019 NABTEB GCE Examination is now available, subscribe now and get the questions and already solved answers by Examrelief.
NABTEB GCE Economics Questions and Answers

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100% VERIFIED ECONOMICS THEORY QUESTIONS

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👑 2019 NABTEB GCE ECONOMICS ANSWERS👑

100% VERIFIED ECONOMICS OBJ ANSWERS

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100% VERIFIED ECONOMICS THEORY ANSWERS

(1a)
Average propensity to consume (APC)
Total National consumption/Total National Income = C/Y

Total National Income(y) = #60million
Total national Consumption (c) = #40million
APC = #40m/#60m = 0.66
= 0.7

(1aii)
Average propensity to save(APS)
= Total National Savings/Total National Income = I/Y
Total income = ₦60m
Total expenditure = ₦40m
Total savings = (Total income – Total expenditure)
S = (₦60m – ₦40m) = ₦20m
APS = s/y = ₦20m/₦60m
= 0.3

(1bi)
Marginal Propensity to consume (MPC )
= change in consumption/change in income = Δc/Δy

Initial income = ₦42m
New income = ₦58m
Change in income = (58 – 42) = ₦16m
Δy = ₦16m

Initial consumption(c) = ₦24m
New Consumption = ₦32m
Changes in consumption = (₦32m – ₦24m) = ₦8m
MPC = Δc/Δy = ₦8m/₦16m = 0.5

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(1bii)
MPC + MPS = 1
MPS = 1 – MPC
MPS = 1 – 0.5
MPS = 0.5

(1biii)
Multiplier (k)
K = 1/1 – MPC = 1/1 – 0.5
= 1/0.5 = 2

(1ci)
If MPC = 0.75
Multiplier (k) = ?
K = 1/k – MPC = 1/1 – 0.75
= 1/0.25 = 4
Multiplier k = 4

(1cii)
k = Δy/Δc as K = 4
4 = ₦800m/c
4c = ₦800m/4 = ₦200m
C = ₦200m

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