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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

Under a floating exchange rate regime, the determinant of the exchange rate is

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A An Act of the National Assembly
B The highest denomination of the currency
C Demand for and supply of foreign goods
D The system of government

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Question 27:

The major objective of a revenue allocation formula in a country is to

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A Share revenue between the different tiers of government
B Divert revenue from areas of surplus to areas of need
C Ensures the financial viability of the country
D Share revenue between the public and private factors

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Question 28:

A greater burden of the taxes on essential goods is borne by the

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A Lower income group
B Higher income group
C Contract workers
D Newly recruited workers

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Question 29:

Privatization and commercialization of public enterprise in Nigeria is necessitated by

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A The IBRD conditions
B The government's loss of interest in them
C Their operational inefficiency
D The IMF conditions

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Question 30:

The effectiveness of devaluation as a solution to a balance of payments problem depends on the

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A Value of visible and invisible goods
B Value of invisible items of both domestic and foreign trades
C Relative elasticities of demand and supply of imports and exports
D Foreign investments of businessmen

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