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Economics Past Questions and Answers

Jamb Economics Questions

Question 36:

Which of the following yields more revenue to Nigeria?

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A Value added tax
B Royalties
C Indirect tax
D Direct tax

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Question 37:

Import substitution aims at?

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A Substituting agricultural products with industrial ones
B Substituting imports with agricultural exports
C The diversification of industries
D Improving the balance of payments

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Question 38:

One of the major criticisms of the 1992-1968 National development Plan was that?

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A It failed to incorporate lessons gained from earlier plans to enhance its efficiency
B It came too quickly after the country's indepedence
C Planned expenditure was based too heavily on expected earnings from crude oil
D Its execution was based largely on foreign sourced financial resources

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Question 39:

ECOWAS has taken a giant step towards economic integration by?

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A Presenting a united front against foreign economic exploiters
B Introducing a common currency for travellers
C Holding frequent meeting at various state capitals
D Increasing economic stability among members states

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Question 40:

A deficit budget can be used to?

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A Stimulate recovery from a trade depression
B Protect the economy from inflation
C Starve the economic of funds for economic development
D Provide measures to remedy the balance of payments

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