Economics Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions

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Question 21

A major factor affecting the value of money is the?


A) price level

B) banking habit

C) transaction motive

D) divisible nature of money

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Question 22

Cost-push inflation is caused by?


A) growth of government expenditure

B) increase in factor prices

C) increase in money supply

D) hoarding

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Question 23

The stock exchange market is where?


A) businessmen borrow some capital

B) the federal government trades on treasury bills

C) existing bonds and stocks are traded

D) new stocks and shares are bought or sold

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Question 24

Commercial bank reserves at the Central Bank have the effect of?


A) controlling credit and money supply

B) discouraging banking operations

C) advancing trade prospects

D) reducing bank frauds

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Question 25

A tax is defined as regressive if?


A) the proportion of income paid as tax increase as the income level increases

B) all income group pay the same percentage of their income as tax

C) the proportion if income taen by the tax falls as income increases

D) the proportion of income taken by the tax is a fixed nominal amount of income for all income groups

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Question 26

Government intervention in an economy is often justified on the group that?


A) wants are unlimited while resources are scarce

B) productivity is higher in the public than in the private sector

C) free market may not work, or produce desirable results

D) opportunity cost of government expenditure is zero

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Question 27

The three groups of government revenue are?


A) investment income, direct tax and indirect tax

B) imports duties, excise tax and export duties

C) company tax, personal income tax and import duties

D) company tax, import duties and excise tax

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Question 28

The main objectives of public expenditure does NOT include?


A) stabilization of national economy

B) achievement of a more equitable income distribution

C) meeting the social needs of the people

D) revenue sharing and profit maximizationn

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Question 29

A perfect example of a public good is?


A) air

B) education

C) defence

D) transport

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Question 30

A balance budget is defined as a condition of?


A) balance of payments equilibrium

B) equality of planned aggregate demand supply

C) equality of planned receipts and planned expenditure

D) equality of planned exports and planned imports

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