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Tuesday, 07 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 1226:
JAMB 1994
Gresham's law in Economics shows that?
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  • A Good drives out bad money
  • B Bad money drives out good money
  • C The value of money varies inversely with the price level
  • D Gold must be available to maintain the price of paper money
View Answer & Explanation
Question 1227:
JAMB 1994
Monetary policy aimed at reducing demand-pull inflation in the country maybe carried out through?
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  • A Increase in taxation of private companies, public corporations and private individuals
  • B Increase in cash reserve ratio of commercial banks and the sale of government securities
  • C Decrease in goverment expenditure on education
  • D Direct price control in the market place
View Answer & Explanation
Question 1228:
JAMB 1994
Progressive tax structure is designed to?
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  • A Take more from the income of the poor
  • B Take more from income of the rich
  • C Take equal proportion of income from both the rich and the poor
  • D Reduce the problems emanating from tax imposition
View Answer & Explanation
Question 1229:
JAMB 1994
Taxes and government expenditures are instrument of?
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  • A Monetary policy
  • B Tax policy
  • C Economic policy
  • D Fiscal policy
View Answer & Explanation
Question 1230:
JAMB 1994
The national income of a country indicates that the gross domestic production was N17 700 million and gross domestic product was N16 800 million. The difference of N900 million represents?
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  • A Debt repayment
  • B Investments abroad
  • C Net income from abroad
  • D Capital consumption
View Answer & Explanation

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