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Thursday, 02 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:
A decrease in aggregate spending in an economy will ultimately lead to
  • A Boom
  • B Inflation
  • C Deflation
  • D Recession
View Answer & Explanation
Question 27:
If MPC is 0.7 while government expenditure increased by N 150m, the equilibrium national income is
  • A N 214 million
  • B N 45 million
  • C N 105 million
  • D N 500 million
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Question 28:
The function of money which makes division of labour possible is its
  • A Unit of account
  • B Store of value
  • C Medium of exchange
  • D Standard of deferred payment
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Question 29:
By buying treasury bills, the Central Bank of Nigeria intends to
  • A Increase money supply in the economy
  • B Reduce the cash reserve ratio for banks
  • C Reduce money supply in the economy
  • D Increase the capital base of commercial banks
View Answer & Explanation
Question 30:
One of the functions of commercial banks is
  • A Maintaining stable price in the economy
  • B Regulating monetary policies
  • C Granting loans to customers
  • D Issuing bank notes and coins
View Answer & Explanation