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Economics Past Questions and Answers

Jamb Economics Questions

Question 51:
The principle that specified that the amount, when and how to pay tax should be made known to tax payer is known as
  • A Principle of economy
  • B Principle of convenience
  • C Principle of simplicity
  • D Principle of certainty
View Answer & Explanation
Question 52:
Money could be defined as
  • A Options A, B and C
  • B Medium of exchange
  • C Settlement of debt
  • D Medium of payment
View Answer & Explanation
Question 53:
Business cycle is associated with
  • A Recession
  • B Unemployment
  • C Seasonal variation
  • D Inflation
View Answer & Explanation
Question 54:
Economic problem occurs when
  • A There is scarcity relative to demand
  • B All raw materials are imported
  • C Many people are out of work
  • D There are no buyers for our goods
View Answer & Explanation
Question 55:
A ............ in the price of the domestic currency in terms of a foreign currency is referred to as .............
  • A Decrease, appreciation
  • B Increase, de-appreciation
  • C Decrease, depreciation
  • D Increase, consolidation
View Answer & Explanation