Economics Past Questions

Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

2,540 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

2,540 questions
Question 1 of 20 2,540 total questions
Question 101
jamb 2023

Public corporation is financed with

ACapital raised from shareholders
BTax payer's money
CCapital raised from stock exchange
DCapital contributed by owners
View Explanation & Discuss
Question 102
jamb 2023

One major criticism of foreign aid to developing countries is that it

AGives too much power and control to world bank
BEncourages growth in government bureaucracy
CIs capital using rather than capital saving
DProvides incentives for capital flight
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Question 103
jamb 2023

The following are economic agents in any economy EXCEPT

ACentral Bank
BHouse hold
CFirm
DGovernment
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Question 104
jamb 2023

The term 'investment' in macroeconomics means

AProfit
BTotal amount of money invested in bonds and stocks
CThe total amount of capital goods in the country
DThe production of goods for immediate consumption
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Question 105
jamb 2023

If commodities X and Y are substitute, their cross elasticity of demand will be

AOne
Bpositive
Cnegative
Dzero
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Question 106
jamb 2023

Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?

ALowering income taxes
BIncreasing the discount rate
CIncreasing the reserve ratio
DBuying Treasury securities from commercial banks
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Question 107
jamb 2023

The demand for money will fall if

APeople expect deflation soon
BReal GDP rises
CReal interest rates rise
DThe GDP deflator rises
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Question 108
jamb 2023

The law of supply states that, other things being constant, as price increases

ASupply increases
BSupply decreases
CQuantity supplied increases
DQuantity supplied decreases
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Question 109
jamb 2023

An increase in money income with constant price results in

AOutward shift in the budget line
BInward parallel shift in the budget line
COptions A and C
DBudget line remain constant
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Question 110
jamb 2023

Among all the determinants of economic growth, the most important one is

AHuman capital
BIncreased GDP
CLand and Natural resources
DTechnologies
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Question 111
jamb 2023

A ............ in the price of the domestic currency in terms of a foreign currency is referred to as .............

ADecrease, appreciation
BIncrease, de-appreciation
CDecrease, depreciation
DIncrease, consolidation
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Question 112
jamb 2023

Economic problem occurs when

AThere is scarcity relative to demand
BAll raw materials are imported
CMany people are out of work
DThere are no buyers for our goods
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Question 113
jamb 2023

Business cycle is associated with

ARecession
BUnemployment
CSeasonal variation
DInflation
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Question 114
jamb 2023

Money could be defined as

AOptions A, B and C
BMedium of exchange
CSettlement of debt
DMedium of payment
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Question 115
jamb 2023

The principle that specified that the amount, when and how to pay tax should be made known to tax payer is known as

APrinciple of economy
BPrinciple of convenience
CPrinciple of simplicity
DPrinciple of certainty
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Question 116
jamb 2023

Government uses all of the following ways to redistribute income, except

AMarket intervention
BTransfer earnings
CLimited liability
DTaxation
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Question 117
jamb 2023

..................... is the highest body in ECOWAS organogram

AAuthority of Head of State and Government
BThe Executive Secretariat
CThe Defense Council
DCouncil of Ministers
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Question 118
jamb 2023

Real cost is

AAlternative commodities forgone
BAmount of money spent on goods and services
CCost of goods and services
DTrue cost
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Question 119
jamb 2023

The maximum price is

AP1
BP2
CP3
DP4
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Question 120
jamb 2023

What is the lowest price the monopolist can charge

AP2
BP1
CP3
DP4
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