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Economics 1988 JAMB Past Questions

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31
The rate at which money changes hands is known as the?
  • A. rate of inflation
  • B. velocity of transactions
  • C. velocity of money
  • D. velocity of circulation
View Answer & Discuss (6) JAMB 1988
32
Merchants banks perform all the following functions EXCEPT?
  • A. raising of capital for industry
  • B. provision of current account facilities
  • C. management of investment portfolios
  • D. provision of credit for overseas trade
View Answer & Discuss JAMB 1988
33

Which of the following is a direct tax?

  • A. Sales tax
  • B. Purchase tax
  • C. Export duties
  • D. property tax
View Answer & Discuss (3) JAMB 1988
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34
Which of the following would most likely be considered an example of benefit taxation?
  • A. Excise tax
  • B. Corporate income tax
  • C. Property tax
  • D. Highway-user tax
View Answer & Discuss (1) JAMB 1988
35
When a nation is experiencing balance of payment surplus, it is in a better position to?
  • A. increase its foreign exchange reserves
  • B. increase its liabilities to foreigners
  • C. reduce its foreign exchange reserves
  • D. devalue its national currency
View Answer & Discuss JAMB 1988
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