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In the diagram above, full employment is indicated by
AL
BM
CN
DP
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Question 1592
jamb1998
The Economic Commission for Africa was set up by the?
AUNO
BECOWAS
COAU
DIMF
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Question 1593
jamb1998
If a country operates a freely floating exchange rate system, and suffers a balance of payments deficit can be eliminated through?
Aa rise in the external value of its currency
Ba fall in the external value of its currency
Can increase in the volume of imports
Dthe consumption of more foreign goods
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Question 1594
jamb1998
If a country has a balance of payments surplus on current account, this means that?
Atotal invisible export is greater than invisible import
Bthe value of goods exported must be greater than the value of goods imported
Cthere must be a positive balance of capital account
Dthe aggregate of the balance of trade and the invisible balance must be positive
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Question 1595
jamb1998
The balance of visible trade is the difference between the values of?`
Aimported and exported goods
Bimported and exported services
Ccurrent account and capital account
Dexchange rate of local and foreign currencies
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Question 1596
jamb1998
Development plans have not been successful in some developing countries largely because of?
Avery large working population
Bincrease level of consumption
Cscarcity of industrial raw materials
Dshortage of skilled labour and experts
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Question 1597
jamb1998
One of the major consequences of urban-biased development programmes in Nigeria is that they?
Aled o rapid rural-urban migration
Bled to unprecedented urban wealth
Ctransformed rural areas into urban centres
Dincreased the level of specialized manpower inthe cities
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Question 1598
jamb1998
Economically, underdeveloped countries are characterized by?
Ahigh rate of population growth and low rate of economic growth
Bhigh rate of economic growth and low rate of population growth
Chigh rate of population growth aand high rate of economic growth
Dlow rate of population growth and low rate of economic growth
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Question 1599
jamb1998
The family Support Programme in Nigeria essentially focuses on?
Athe generation of employment
Bthe alleviation of poverty
Cagricultural and industrial development
Deconomic emancipation of women
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Question 1600
jamb1998
Which of the following is a transfer payment?
ADividend to a shareholder
BGift to a mothers less babies' home
CSalary to a worker
DRent to a landlord
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Question 1601
jamb1998
The major objective of economic growth is to?
Aredistribute income and other benefits of growth
Bequalize opportunities for education and employment
Cincrease the aggregate expenditure on goods and services
Dincrease real per capital income
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Question 1602
jamb1998
A fall in the marginal propensity to save will lead to?
Aa decrease in national income
Ban increase in national income
Cno change in national income
Dan increase in disposable income
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Question 1603
jamb1998
If a country's national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?
A5%
B15%
C20%
D100%
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Question 1604
jamb1998
If a government wants to reduce the level of inflation, it will?
Arun a budget surplus
Brun a budget deficit
Crun a balanced budget
Dborrow more money
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Question 1605
jamb1998
When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?
Aelasticity of demand for the good
Bproportion of the consumer's income spent on the good
Celasticities of demand and supply of the commodity
Davailability of substitiutes for the commodity
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Question 1606
jamb1998
An increase in government expenditure will lead to?
Ainvestment opportunities for foreign investors
Ban increase in the level of aggregate demand
Can increase in total tax revenue
Dreduction in total tax revenue
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Question 1607
jamb1998
A rise in the market price of fixed interest securities is an indication that the?
Asupply of money has decreased
Bliquidity preference has increased
Cmarket rate of interest has risen
Dmarket rate of interest has fallen
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Question 1608
jamb1998
An issue of bank-notes not backed by gold but by government securities is known as?
Afiduciary isssue
Bguaranteed money
Cseignior age
Dlegal tender
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Question 1609
jamb1998
If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which receives an initial cash deposit of N3000 is in a position to lend out?
AN9,000
BN3,330
CN2,770
DN2,100
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Question 1610
jamb1998
Which of the following is true about the value of money?
