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Cwhere the economy system is on its production possibility curve
Dthe consumption behaviour of the people
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Question 2
jamb1986
Which of the following strategies will provide more employment opportunities for Nigerians?
AInvestment in social services
BIndustrialization
CEconomics planning
DEradication of illiteracy
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Question 3
jamb1986
The difference between the Gross Domestic Product and the Gross National Product is?
Aallowance for total depreciation
Btotal interest payments
Ctotal tax and interest payments
Dnet income from aboard
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Question 4
jamb1986
Which of the following methods is most likely to lead an economy?
AAn increase in wages and profits
BAn increase in consumer demand
CA greater fraction of national Product going into investment
DA countinuous rise in bank loans
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Question 5
jamb1986
ECOWAS will enable the countries involved to achieve
Acomparative political advantage over other countries not in the region
Ba large market for their products
Cmilitary superiority over countries not in the region
Dlower the transportation codt of goods wthin the region
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Question 6
jamb1986
A society which forgoes present consumption
Ais forced to do so because of excessive consumption within the country in the past
Bis devoting new resources to new capital formation
Cis merely devoting resources to the replacement of capital
Dexpects to consume only that amount tomorow which was forgone today
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Question 7
jamb1986
The term of trade often measured by the ratio of the index of export
Adivided by the index of import prices multiplied by 100
Bmultiplied by the index of import prices
Cplus the index of import prices multiplied by 100
Dminus the index of import prices
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Question 8
jamb1986
The term balance of trade, can be defined as the?
Arelation between value of exports and value of imports over a given period of time
Bbalance owed to the rest of the world in payment for imports
Cprice paid for imports in term of exports
Drelation between payments of all kind made by a country to the rest of the world, over a given period of time
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Question 9
jamb1986
Balance of payment deficit in Nigeria CANNOT be solved by
Aimporting more goods and services
Bdevaluation of the currency
Cimposing import duties
Dimposing import bans on some commodities
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Question 10
jamb1986
In international trade, a country specializes in the production of a commodity or group of commodities for which it has?
Aa buoyant market
Bplenty of raw materials
Cthe greatest relative advantage
Dexecutive manpower
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Question 11
jamb1986
Tax incidence is the analysis of?
Ahow progressive a tax is
Bhow a tax is collected
Chw distorting a tax is
Dwho ultimately pays the tax
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Question 12
jamb1986
The best technical description of a progressive tax is a?
Atax which takes more money from the rich than from the poor
Bmore equitable tax than aggressive one
Ctax which takes a higher proportion of extra naira received as income rises
Dtax which falls directly on those in the high income brackets
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Question 13
jamb1986
Which of the following is NOT a goal of modern budgets?
AThe control of inflation
BThe reduction in income inequality
CThe shift of all resources from the private to the public sector
DEconomic development
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Question 14
jamb1986
Which of the following causes of inflation is related to demand-pull inflation?
ALow productivity on farms and in firms
BPoor storage facilities
CPoor distribution system
DIncrease in expenditure on construction
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Question 15
jamb1986
Deflation is a persistent fall in the general price level and is usually caused by?
Aa reduction in total demand
Ban increase in government spending
Can increase in the money supply
Dan increase in aggregate demand
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Question 16
jamb1986
The most important economic characteristic differentiating commercial banks from other financial institutions is their?
Afunction as a safe and profitable store place for savings
Brole in financing balance of payment deficits
Cstatus as an intermediary between savers and borrowers
Dability to create and destory money
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Question 17
jamb1986
Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?
AN100.00
BN1,000.00
CN9,000.00
DN10,000.00
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Question 18
jamb1986
Gresham's law in economics shows that
Abad money drives good money out of circulation
Bgood money drives bad money out of circulation
Cgold must be available to maintain the value of paper money
Dthe price level varies directly with the quality of money
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Question 19
jamb1986
Which of the following is used by the Central Bank to control the rate of interest?
ABill of Exchange
BBanker's order
CFixed deposit account
DOpen market operation
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Question 20
jamb1986
To control inflation, the monetary authorities of a country can?
