Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 31:

In any economy, what is used as money is determined by?

SchoolNGR Classroom

A Government acceptance commodity standard
B Government acceptance of an inconvertible paper standard
C Laws and customs
D Its use as a store of value

View Answer & Explanation

Question 32:

The rate at which money changes hands is known as the?

SchoolNGR Classroom

A Rate of inflation
B Velocity of transactions
C Velocity of money
D Velocity of circulation

View Answer & Explanation

Question 33:

Merchants banks perform all the following functions EXCEPT?

SchoolNGR Classroom

A Raising of capital for industry
B Provision of current account facilities
C Management of investment portfolios
D Provision of credit for overseas trade

View Answer & Explanation

Question 34:

Which of the following is a direct tax?

SchoolNGR Classroom

A Sales tax
B Purchase tax
C Export duties
D Property tax

View Answer & Explanation

Question 35:

Which of the following would most likely be considered an example of benefit taxation?

SchoolNGR Classroom

A Excise tax
B Corporate income tax
C Property tax
D Highway-user tax

View Answer & Explanation

Stay Updated

Follow us on:

Subjects