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Economics 2012 JAMB Past Questions

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21

Net National Product is derived by deducting

  • A. net exports from GNP
  • B. subsidies from GDP
  • C. taxes from GDP
  • D. depreciation from GNP
View Answer & Discuss (1) JAMB 2012
22

The investment expenditure of an economy changes by N2 million and MPC is 0.75
The multiplier is

  • A. 8
  • B. 4
  • C. 3
  • D. 2
View Answer & Discuss (4) JAMB 2012
23

The investment expenditure of an economy changes by N2 million and MPC is 0.75
What is the change in income?

  • A. N0.5m
  • B. N1.5m
  • C. N2.6m
  • D. N8.0m
View Answer & Discuss (5) JAMB 2012
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24

If a basket of commodities cost N120 in the base year and N240 in the current year, calculate the price index

  • A. 100
  • B. 200
  • C. 240
  • D. 300
View Answer & Discuss (5) JAMB 2012
25
The money that commands a higher market value than its face value is called
  • A. paper money
  • B. standard money
  • C. commodity money
  • D. fiat money
View Answer & Discuss (2) JAMB 2012
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