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Economics Past Questions

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1406

An increase in the circulation of money without a corresponding increase in output will lead to

  • A. a rise in income levels
  • B. stagflation
  • C. inflation
  • D. deflation
View Answer & Discuss JAMB 2011
1407

In national income accounts, an item counted as part of government spending is

  • A. salaries and wages
  • B. pension
  • C. scholarship
  • D. social welfare
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1408

If aggregate demand is lower than total output in an economy national income will

  • A. be constant
  • B. be at equilibrium
  • C. increase
  • D. fall
View Answer & Discuss (3) JAMB 2011
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1409

During the era of barter, money was generally in the form of

  • A. notes
  • B. precious metals
  • C. coins
  • D. commodities
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1410

A country achieves economic development when there is

  • A. an increase in military expenditure
  • B. an increase in capacity utilization
  • C. a sustained increase in per capital income
  • D. an even distribution of goods and services
View Answer & Discuss (2) JAMB 2011
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