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Saturday, 04 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:
If the marginal propensity to consume is 0.6 and consumption expenditure changes by N10 million, the equilibrium level of income will change by
  • A N4.0 milion
  • B N25. 0 milion
  • C N2.5 milion
  • D N15.0 milion
View Answer & Explanation
Question 2:
If the marginal propensity to consume is 0.6 and consumption expenditure changes by N10 million, the equilibrium level of income will change by
  • A N4.0 milion
  • B N25. 0 milion
  • C N2.5 milion
  • D N15.0 milion
View Answer & Explanation
Question 3:
Personal income tax as a source of government revenue is increased when the
  • A Tax rate is raised
  • B Tax system is proportional
  • C Retirement age is reduced
  • D Tax base is contracted
View Answer & Explanation
Question 4:
In computing national income, transfers are excluded because
  • A They are received only by the poor
  • B The figures reduce the size of national income
  • C It is difficult to get the exact figures
  • D They are not payments for productive activities
View Answer & Explanation
Question 5:
The major role of NDIC is to
  • A Insure bank deposits
  • B Regulate the activities of insurance companies
  • C Ensure adequate capitalization of insurance companies
  • D Accept customers' deposit
View Answer & Explanation