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Friday, 03 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
  • A Consumption expenditure
  • B Indirect taxes
  • C Exports and property income from abroad
  • D Gross Domestic Fixed Capital Formation
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Question 42:
In estimating the national income of a country, the three approaches usually adopted are the?
  • A Expenditure, value-added and output
  • B Income, final product and output
  • C Expenditure,income and output
  • D Avoiding of double counting, final expenditure and value added
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Question 43:
If technology becomes less capital-intensive, it means?
  • A An increase in the capital/labour ratio
  • B An increase in the capital/ratio
  • C A fall in the labour/capital ratio
  • D Increased unemployment
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Question 44:
The most threatening problem for the less developed countries is?
  • A The continual depletion of their soil fertility
  • B The rise of nationalism
  • C Population explosion
  • D Their differences towards economic growth
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Question 45:
An increase in an economy's productive capacity implies?
  • A An increase in the economy's rate of capital replacement
  • B An increase in the economy's capital stock
  • C A decrease in government spending
  • D An increase in government spending
View Answer & Explanation