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 most important factor ensuring economic development is the?
Aeffective mobilization of domestic savings
Bpresence of foreign capital
Cformulation of appropriate government policies
Dattraction of foreign aids and grants
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Question 802
jamb1997
The major determinant of the total volume of output in an economy is the?
Alevel of wholesale prices
Bsize of the labour force
Clevel of total expenditure
Dcomposition of consumer spending
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Question 803
jamb1997
Privatization of government-owned companies means the?
Arelinquishing of government equility participation to private individuals
Brecapitalization of distressed government-owned companies
Cjoint paticipation of government and private individuals
Dcommercialization and deregulation of the economy
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Question 804
jamb1997
The total money values of all goods and services produced in a country during a certain period is measured by using the?
Aincome method
Bexpenditure method
Coutput method
Dfactor method
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Question 805
jamb1997
Given: Investment = N100 million
C m + 0.75Y
Y = C + I
where, Y =Income, C = Consumption and where
I = Investment
What is the income level to the nearest million?
AN100 Million
BN300 Million
CN1,000 Million
DN1,200 Million
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Question 806
jamb1997
If the marginal propensity to consume is 0.75 and private investment increases by N10 billion while government expenditure decreases by N15 billion, GDP will decrease by?
AN12 billion
BN15 billion
CN20 billion
DN25 billion
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Question 807
jamb1997
One of the factors which is likely to check the growth of public debts is?
Abridging the resources gap
Bdebt reputation
Cdebts rescheduling
Ddebt-equility swap
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Question 808
jamb1997
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 809
jamb1997
The use of legally permissible means to reduce tax liabilities is known as tax?
Aevasion
Bavoidance
Creliefs
Dexemption
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Question 810
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 811
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 812
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 813
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 814
jamb1997
The most important attribute of money is?
Ahomogeneity
Brelative scarcity
Cdivisibility
Dgeneral acceptability
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Question 815
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 816
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 817
jamb1997
One of the dangers of the localization of industries is?
Aresidual employment
Bmass unemployment
Cstructural unemployment
Dcyclical unemployment
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Question 818
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 819
jamb1997
Plywood industries are often located near the source of?
Afinance
Blabour
Cpower supply
Draw materials
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Question 820
jamb1997
What is the effect of inelastic demand for agricultural products on the income of a farmer?
