JAMB Economics Past Questions, Answers & Explanations - Economics

Jamb Economics Questions

Question 11:

The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect

Question 12:

Invisible trade refers to trade in?

Question 13:

Indirect taxes are taxes?

A Which are levied on the incomes and profits of individuals and firms
B Whose incidence always falls on the consumer
C Which are based on the progressive principle
D On casinos, airports and capitals gains
E Which are levied on people and economic units through the goods and services they purchase

Question 14:

The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?

Question 15:

Which of the following statement is NOT true about agriculture in West Africa?

A Agriculture employs over 60% of West Africaâ€™s occupied population
B Agriculture production is the basis for excise taxes in West Africa
C Many West Africa countries depend on agricultural exports for foreign exchange earnings
D Agriculture supplies West African industries with raw materials
E Agriculture provides incomes to West African farmers who engaged in it