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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

Surplus in balance of payment leads to?

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A Inflation or increasing prices generally
B Increases in foreign reserves
C Decreases in foreign reserves
D Government budget surplus
E None of the above

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Question 22:

Which of the following does NOT belong in respect of the quantity of money?

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A Durability
B Division into the smallest units of value
C Portable
D Identifiable by all
E Measure of value

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Question 23:

Government budget can be described as the sum of?

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A Indirect tax, direct tax, and loans expected within a financial year
B Planned recurrent expenditure and planned investment expenditure
C Planned capital expenditure for a development plan within a plan period
D Planned expenditure and expect revenue within a financial year
E Planned expenses of all ministries within a financial year

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Question 24:

An economy in which both the public and the private sectors contribute substantially to the growth of output is?

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A A socialist economy
B A capitalist economy
C A mixed economy
D An industrial economy
E A peasant economy

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Question 25:

Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?

SchoolNGR Classroom

A Climate influences
B Development of trade and markets
C Soil fertility
D Processing of petroleum oil
E Concentration of educational facilities

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