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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

Which of the following is likely to be inflationary?

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A Tax increase
B Increase in unemployment
C Budget surplus
D Wages increase

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Question 27:

The basic purpose of imposing legal reserve requirements on commercial bank is to?

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A Assure the profitability of commercial banks
B Provide a device through which credit creation by banks can be controlled
C Provide a proper ratio between earning and non-earning bank assets
D Provide the Central Bank with working capital

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Question 28:

Find the total credit that the banking system can create if primary deposit is just N100.00 while the cash ratio is 20%

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A 700.00
B 600.00
C 500.00
D 400.00

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Question 29:

Which of the following is a liability of a commercial bank?

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A Deposits in bank
B Loans made by the bank to individuals
C Loans made by the bank to other banks
D Bonds purchased by the bank

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Question 30:

A tax on a commodity whose supply is perfectly inelastic is?

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A Shifted completely on the consumer
B Completely borne by the supplier
C Dividend in the ratio 60;40 between the consumer and the supplier
D Divided half-and-half between the producer and the consumer

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