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Economics Past Questions and Answers

Jamb Economics Questions

Question 6:

When the federal government guarantees a loan for a state government, such a loan constitutes

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A A public debt
B A transferred debt
C A private debt
D An inter-governmental debt

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Question 7:

One way of controlling deflation is by

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A Contractionary monetary policy
B Decreasing wages
C Deficit financing
D Rigid fiscal policy

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Question 8:

If the Central Bank of Nigeria reduces the bank rate, this will cause

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A Money supply to increase
B Commercial banks to reduce lending
C Commercial banks to merge
D Money supply to reduce

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Question 9:

The main source of government revenue in Nigeria is

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A Import duties
B Rents and royalties
C Company income tax
D Capital gains tax

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Question 10:

The Revenue Mobilization, Allocation and Fiscal Commission in Nigeria has the primary responsibility for

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A Maintaining the fiscal supremacy of the central government the fiscal supremacy of the central government
B Evolving an acceptable wage for public servants
C Evolving an acceptable revenue-sharing formula
D Ensuring equity in the sharing of fiscal responsibilities

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