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Economics 1987 JAMB Past Questions

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31
If inflation is anticipated to continue?
  • A. people will lose confidence in goods
  • B. lenders will demand higher interest rate
  • C. the growth of full employment output will be accelerated
  • D. people will want to hold more money
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32
Ad valorem tax means?
  • A. a certain percentage tax based on the value of the commodity
  • B. a certain percentage tax based on the volume of the commodity
  • C. a tax on the income of the consumer
  • D. payment of a tax on the profits made
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33
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
  • A. elastic
  • B. inelastic
  • C. perfectly elastic
  • D. unitary elastic
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34
A budget with a projected revenue in excess of its expenditure is said to be?
  • A. balanced
  • B. surplus
  • C. deficit
  • D. inflationary
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35
The money which government spends yearly for the maintenance of its school is?
  • A. used only for wages and salaries
  • B. part of the government's capital expenditure
  • C. part of the government's recurrent expenditure
  • D. the government's budget for its school
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