Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 31:

An example of a regressive tax is?

SchoolNGR Classroom

A The personal income tax
B The graduated corporation income tax
C A general sales tax
D The inheritance tax
E The excise tax

View Answer & Explanation

Question 32:

Tax which is levied on goods manufactured, sold or used within a country is?

SchoolNGR Classroom

A Sales tax
B Excise tax
C Direct tax
D Income tax
E Poll tax

View Answer & Explanation

Question 33:

By terms of trade, we mean the?

SchoolNGR Classroom

A Ratio of exports and imports
B Differences between exports and imports
C Differences between current account and capital account
D Index of export prices to import prices expressed as a percentage
E Ratio of short-term capital movements to long-term capital movements

View Answer & Explanation

Question 34:

The argument of tariff protection in less developed economies is that such a measure would

SchoolNGR Classroom

A Raise the price of goods affected abroad
B Make consumers pay a higher price for the domestically produced output
C Protect young industries from ruinous competition from abroad
D Help reduced excess capacity in domestic industries
E Stifle private investment intiatives

View Answer & Explanation

Question 35:

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

SchoolNGR Classroom

A It would allowed for more money to be spent on luxuries
B The interest rate on the loan will increase
C It would decrease the demand for Nigeria's exports
D It would worsen Nigeria foreign exchange situation
E Nigerias oil would sell less in the world market

View Answer & Explanation

Stay Updated

Follow us on:

Subjects