Economics Past Questions

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866

When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?

A. elasticity of demand for the good
B. proportion of the consumer's income spent on the good
C. elasticities of demand and supply of the commodity
D. availability of substitiutes for the commodity

View Answer & Discuss JAMB 1998

867

If a government wants to reduce the level of inflation, it will?

A. run a budget surplus
B. run a budget deficit
C. run a balanced budget
D. borrow more money

View Answer & Discuss (5) JAMB 1998

868

If a country's national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?

A. 5%
B. 15%
C. 20%
D. 100%

View Answer & Discuss (1) JAMB 1998

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869

A fall in the marginal propensity to save will lead to?

A. a decrease in national income
B. an increase in national income
C. no change in national income
D. an increase in disposable income

View Answer & Discuss (2) JAMB 1998

870

The major objective of economic growth is to?

A. redistribute income and other benefits of growth
B. equalize opportunities for education and employment
C. increase the aggregate expenditure on goods and services
D. increase real per capital income

View Answer & Discuss (2) JAMB 1998

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