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.
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 782
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 783
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 784
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 785
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 786
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 787
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 788
jamb1998
Which of the following is true about the value of money?
Ait varies inversely with the price level
Bit varies directly with the price level
Cit depreciates in the period of deflation
Dit is not affected by the price level
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Question 789
jamb1998
One of the techniques of monetary control used by the Central Bank of Nigeria is?
Aselective credit control
Bbudget deficit
Cforeign exchange control
Dmonitoring the general price level
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Question 790
jamb1998
Crude petroleum is a good example of a?
Alasting asset
Bwasting asset
Csynthetic product
Dcostless resources
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Question 791
jamb1998
The petroleum industry in Nigeria is?
Athe sole source of the nation's revenue
Bthe oldest industry in the country
Cthe mainstay of the economy
Da factor in the decline in the nation's foreign reserves
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Question 792
jamb1998
Export-promotion policy is primary concerned with the?
Aprocessing of raw materials to increase their value
Bmaking of international routes safe for export commodity
Creduction in the number of imported items
Dencourage of the production of export commodities
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Question 793
jamb1998
In many developing countries, infrastructural problems is acute due to the shortage of?
Aindustries and industrial equipment
Bsavings, investment and consumption
Cnatural resources for development
Dsupporting services that encourage economic activities
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Question 794
jamb1998
A factor that influences the location of a firm near its market is the?
Atransportation of bulky raw materials
Bexternal economies
Chigh cost of transporting finished goods
Davailability of skilled manpower
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Question 795
jamb1998
An entirely domestic effort directed at improving agricultural production in Nigeria is the?
AAgricultural Development Programme
BAgro-industrial Development Scheme
CFood and Agricultural Organization
DNational Land Development Authority
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Question 796
jamb1998
The sector that employs the largest proportion of the active labour force in Nigeria is the?
Aoil sector
Bfederal civil services
Cfinancial sector
Dagricultural sector
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Question 797
jamb1998
Which of the following can have their shares quoted on the stock exchange?
APublic corporations
BA partnership
CA consumer corporative
DA public limited liability company
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Question 798
jamb1998
One form of business organization which is not motivated solely by the profit objective is the?
Ajoint stock company
Bprivate limited company
Cco-operative society
Dordinary partnership
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Question 799
jamb1998
Liquidation of limited liability company implies that the?
Acompany may not pay its debt
Bdebts of the company can only be paid from its own assets
Cdebts of the company are paid from both business and private funds of the owners
Ddebts of the company musts be paid from public funds only
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Question 800
jamb1998
Unlike the retailer, the wholesaler provides?
Auseful information to the manufacturer about consumers'taste
Bafter-sales services to the consumers
Cuseful information to the costumers on the benefits and uses of the product
Duseful information about market trends and finance to the manufacturer
