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Economics 2009 JAMB Past Questions

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26

Cost-push inflation occurs when

  • A. production cost is high
  • B. factor prices decrease
  • C. there is too much money in circulation
  • D. government embarks on deficit financing
View Answer & Discuss JAMB 2009
27
The Basic Needs Approach to development is
  • A. poverty alleviation
  • B. provision of educational infrastructure
  • C. provision of health services
  • D. improvement in workers income
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28

If government expenditure exceeds revenue, this result in

  • A. balanced budget
  • B. national debt
  • C. budget deficit
  • D. budget surplus
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29
The major reason why countries strive to achieve optimum growth is to
  • A. be self-sufficient
  • B. raise general living standards
  • C. raise the level of production
  • D. reduce aggregate expenditure
View Answer & Discuss (1) JAMB 2009
30

According to the theory of comparative advantage specialization will result in

  • A. labour-intensive method of production
  • B. capital-intensive method of production
  • C. efficient allocation of resources
  • D. efficient distribution of output
View Answer & Discuss (1) JAMB 2009
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