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Economics 2008 JAMB Past Questions

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21

The high rate of inflation in Nigeria can be attributed to

  • A. increasing cost of production
  • B. the appreciation of the naira
  • C. decreasing cost of production
  • D. high capacity utilization
View Answer & Discuss JAMB 2008
22

If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit account, what is the excess reserves?

  • A. N2000
  • B. N18 000
  • C. N12 000
  • D. N8 000
View Answer & Discuss JAMB 2008
23

Contractionary monetary policy is used to

  • A. control inflation
  • B. bridge the deflationary gap
  • C. expand the output level
  • D. deregulate the economy
View Answer & Discuss JAMB 2008
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24

The use of government revenue and expenditure to achieve set objectives is known as

  • A. budget
  • B. fiscal policy
  • C. revenue allocation
  • D. monetary policy
View Answer & Discuss (1) JAMB 2008
25

An example of an indirect tax is

  • A. profit tax
  • B. sales tax
  • C. capital gain tax
  • D. poll tax
View Answer & Discuss JAMB 2008
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