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Economics 1991 JAMB Past Questions

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26
Banks aid economic expansion and development by?
  • A. being very strict in lending policies
  • B. mobilizing savings for investment lending
  • C. paying interest on deposit accounts
  • D. charging high interest on loans
View Answer & Discuss (2) JAMB 1991
27
The term 'Stock of Capital 'means?
  • A. amount of money necessary to start a business
  • B. total amount receivable by all factors of production
  • C. amount of equipment plant and inventory existing at a time
  • D. total amount available for economic development
View Answer & Discuss JAMB 1991
28
A tax that takes an increasing fraction of income as income goes down is called?
  • A. conditional
  • B. regressive
  • C. progressive
  • D. proportional
View Answer & Discuss JAMB 1991
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29
Budget deficit is the amount by which?
  • A. total expenditure exceeds revenue
  • B. recurrent expenditure exceeds revenue
  • C. capital expenditure exceeds revenue
  • D. recurrent expenditure exceeds capital expenditure
View Answer & Discuss (4) JAMB 1991
30
The average tax rate is defined as
  • A. total tax rate less the marginal tax rate
  • B. the tax rate which applies to additional value income
  • C. the ratio of total taxes paid to total income
  • D. marginal tax rate for being progressive
View Answer & Discuss JAMB 1991
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