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Economics 1997 JAMB Past Questions

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36

Given: Investment = N100 million
Consumption = N200 m + 0.75Y
Y = C + I
where, Y =Income, C = Consumption and where
I = Investment
What is the income level to the nearest million?

  • A. N100 Million
  • B. N300 Million
  • C. N1,000 Million
  • D. N1,200 Million
View Answer & Discuss (6) JAMB 1997
37
The total money values of all goods and services produced in a country during a certain period is measured by using the?
  • A. income method
  • B. expenditure method
  • C. output method
  • D. factor method
View Answer & Discuss JAMB 1997
38
Privatization of government-owned companies means the?
  • A. relinquishing of government equility participation to private individuals
  • B. recapitalization of distressed government-owned companies
  • C. joint paticipation of government and private individuals
  • D. commercialization and deregulation of the economy
View Answer & Discuss JAMB 1997
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39
The major determinant of the total volume of output in an economy is the?
  • A. level of wholesale prices
  • B. size of the labour force
  • C. level of total expenditure
  • D. composition of consumer spending
View Answer & Discuss (1) JAMB 1997
40
The most important factor ensuring economic development is the?
  • A. effective mobilization of domestic savings
  • B. presence of foreign capital
  • C. formulation of appropriate government policies
  • D. attraction of foreign aids and grants
View Answer & Discuss JAMB 1997
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