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Monday, 13 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 36:
A permit that allows an importer to bring a certain quantity of foreign goods into a country is_________
  • A Import monopoly
  • B Import licence
  • C Import quota
  • D Embargo
View Answer & Explanation
Question 37:
The business risks of a public corporation are borne ultimately________
  • A By the government
  • B By the treasury
  • C By the rate payers
  • D By the tax payers
View Answer & Explanation
Question 38:
Poverty simply refers to the low level of________
  • A Planning
  • B Per capita income
  • C Rich people
  • D Labour face
View Answer & Explanation
Question 39:
When a member's currency is declared "scarce", it is the duty of the IMF to______
  • A Suspend the member state indefinitely
  • B Ban all exports from that state
  • C Suspend dealings in that currency for one year
  • D Ration it among the countries demanding it
View Answer & Explanation
Question 40:
Most of the National debts is "dead weight" in the sense that is____
  • A Bound to increase from year to year
  • B Accumulated as the result of past capital investment
  • C The responsibility of the treasury
  • D Not covered by any real asset
View Answer & Explanation