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.
The greatest proportion of government revenue in Nigeria comes from?
Aexport of raw materials
Bincome taxes on individuals and business
Ccustom duties and excise duties
Dloans and grants from industrially advanced countries
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Question 1642
jamb1997
The use of legally permissible means to reduce tax liabilities is known as tax?
Aevasion
Bavoidance
Creliefs
Dexemption
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Question 1643
jamb1997
Stock and shares as well as bonds are examples of instruments used in the?
Acommodity markets
Bmoney markets
Ccapital markets
Dsecurity markets
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Question 1644
jamb1997
Banks can create more money by?
Aincreasing its cash ratio with the Central Bank
Bissuing more banks cheques
Caccepting more deposits from customers
Dlending out money from customers deposits
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Question 1645
jamb1997
In commercial banking, an account from which the customer cannot withdraw money instantly is a?
Ademand deposit account
Btime deposit account
Cspecial deposit account
Dsavings deposit account
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Question 1646
jamb1997
Which of the following is inflationary?
AAn increase in taxation
BAn increase in savings
CA decrease in money supply
DAn increase in government expenditure
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Question 1647
jamb1997
The most important attribute of money is?
Ahomogeneity
Brelative scarcity
Cdivisibility
Dgeneral acceptability
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Question 1648
jamb1997
The main problem of the Organization of Petroleum Exporting Countries is how to?
Aprevent members from violating their quota
Benhance the quality of petroleum product
Ccompete with the North Sea producers
Densure viable crude reserves
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Question 1649
jamb1997
A glut in the world market for crude oil means?
Aa fall in crude oil production
Ban excess supply of crude petroleum
Ca higher crude oil price offered by the buyer
Da higher crude oil price demanded by the seller
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Question 1650
jamb1997
One of the dangers of the localization of industries is?
Aresidual employment
Bmass unemployment
Cstructural unemployment
Dcyclical unemployment
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Question 1651
jamb1997
A firm is said to have benefited from external economies in production if it has realized?
Aa more efficient management of resources
Ba better combination of factors of production
Creduced resources costs due to operation of other firms
Da higher profit level due to increased sales
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Question 1652
jamb1997
Plywood industries are often located near the source of?
Afinance
Blabour
Cpower supply
Draw materials
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Question 1653
jamb1997
What is the effect of inelastic demand for agricultural products on the income of a farmer?
AA price rise results in its fall
BA price fall results in its fall
CA price fall results in its rise
DA price rise leaves the income unchanged
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Question 1654
jamb1997
The most important requirement for increasing agriculture output in Nigeria is?
Afor the government to go into large scale farming
Bto employ relevant foreign technology and reform the land tenure system
Cto increase farmers'incomes and improve the farming techniques
Dto employ more extension workers
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Question 1655
jamb1997
The suggestion that peasants in Africa have backward-bending supply curves of output implies that their response to an increase in the price of their crops will be to?
Aincrease their output
Bdecrease their output
Ckeep their output constant
Dhoard their output
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Question 1656
jamb1997
The shares that must be redeemed first at liquidation of a company are?
Apreference shares
Bnon-voting ordinary shares
Cordinary shares
Ddebentures
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Question 1657
jamb1997
A form of business organization which is characterized by limited authority and liability of individual owners is the?
Asole proprietorship
Bpartnership
Cjoint stock company
Dco-operative society
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Question 1658
jamb1997
The best channel of distribution of baked bread is through?
Awholesalers to retailers then to consumers
Bdirect sales to consumers
Cwholesalers to consumers
Dretailers to consumers
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Question 1659
jamb1997
A market where there are many differentiated products is called?
Amonopoly
Bperfect competition
Cmonopolistic competition
Doligopoly
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Question 1660
jamb1997
If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of the product, then the income elasticity of demand for the product is?
