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Economics Past Questions and Answers

Jamb Economics Questions

Question 11:

National Income estimates can be used to?

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A Differentiate between the rich and the poor in a country
B Prepare a country's annual budget
C Protect the level of a country's economic develompent
D Compare a country's growth rate with that of another over a period of time

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Question 12:

In Nigeria, the bank that can correctly be described as a unit bank is?

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A The Central Bank
B People's bank
C Mortgage bank
D Community bank

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Question 13:

If the country's GNP in the current year is N50 billion, and the GNP in the base year N50 billion, the GNP deflector is?

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A 130.0
B 30.0
C 15.0
D 1.3

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Question 14:

In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume 0.8. The value of the multiplier is?

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A 2.5
B 2.6
C 2.7
D 2.4

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Question 15:

Insurance companies invest mainly in instruments trade on the?

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A Capital market
B Money market
C Commodity market
D Open market

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