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Economics Past Questions and Answers

Jamb Economics Questions

Question 56:
Among all the determinants of economic growth, the most important one is
  • A Human capital
  • B Increased GDP
  • C Land and Natural resources
  • D Technologies
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Question 57:
An increase in money income with constant price results in
  • A Outward shift in the budget line
  • B Inward parallel shift in the budget line
  • C Options A and C
  • D Budget line remain constant
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Question 58:
The law of supply states that, other things being constant, as price increases
  • A Supply increases
  • B Supply decreases
  • C Quantity supplied increases
  • D Quantity supplied decreases
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Question 59:
The demand for money will fall if
  • A People expect deflation soon
  • B Real GDP rises
  • C Real interest rates rise
  • D The GDP deflator rises
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Question 60:
Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?
  • A Lowering income taxes
  • B Increasing the discount rate
  • C Increasing the reserve ratio
  • D Buying Treasury securities from commercial banks
View Answer & Explanation