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Economics Past Questions and Answers

Jamb Economics Questions

Question 16:
Disposable income is total income
  • A Less tax
  • B Divided by tax
  • C Plus tax
  • D Multiplied by tax
View Answer & Explanation
Question 17:
In which of the following economic systems do we have the means of production and exchange controlled by private individuals
  • A Socialist system
  • B Mixed system
  • C Capitalist system
  • D Traditional system
View Answer & Explanation
Question 18:
The situation whereby the government of a country spends more than its budgets for a given financial year is known as
  • A Surplus budget
  • B Deficit budget
  • C Balanced budget
  • D Minus budget
View Answer & Explanation
Question 19:
The total stock of money available for use in an economy is
  • A Supply of money
  • B Value of money
  • C Demand for money
  • D Attribute of money
View Answer & Explanation
Question 20:
What does the accelerator principles state?
  • A Consumption is a function of the rate of change of income
  • B Income is a function of the rate of change of investment
  • C Investment is a function of the rate of change of income
  • D Investment is a function of the rate of interest
View Answer & Explanation