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Economics 1994 JAMB Past Questions

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31
Gresham's law in Economics shows that?
  • A. good drives out bad money
  • B. bad money drives out good money
  • C. the value of money varies inversely with the price level
  • D. gold must be available to maintain the price of paper money
View Answer & Discuss JAMB 1994
32
Monetary policy aimed at reducing demand-pull inflation in the country maybe carried out through?
  • A. increase in taxation of private companies, public corporations and private individuals
  • B. increase in cash reserve ratio of commercial banks and the sale of government securities
  • C. decrease in goverment expenditure on education
  • D. direct price control in the market place
View Answer & Discuss (2) JAMB 1994
33
Progressive tax structure is designed to?
  • A. take more from the income of the poor
  • B. take more from income of the rich
  • C. take equal proportion of income from both the rich and the poor
  • D. reduce the problems emanating from tax imposition
View Answer & Discuss (1) JAMB 1994
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34
Taxes and government expenditures are instrument of?
  • A. monetary policy
  • B. tax policy
  • C. economic policy
  • D. fiscal policy
View Answer & Discuss JAMB 1994
35
The national income of a country indicates that the gross domestic production was N17 700 million and gross domestic product was N16 800 million. The difference of N900 million represents?
  • A. debt repayment
  • B. investments abroad
  • C. net income from abroad
  • D. capital consumption
View Answer & Discuss (1) JAMB 1994
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