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Economics 2015 JAMB Past Questions

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51
Disposable income is total income
  • A. less tax
  • B. divided by tax
  • C. plus tax
  • D. multiplied by tax
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52
In which of the following economic systems do we have the means of production and exchange controlled by private individuals
  • A. socialist system
  • B. mixed system
  • C. capitalist system
  • D. traditional system
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53
The situation whereby the government of a country spends more than its budgets for a given financial year is known as
  • A. surplus budget
  • B. deficit budget
  • C. balanced budget
  • D. minus budget
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54
The total stock of money available for use in an economy is
  • A. supply of money
  • B. value of money
  • C. demand for money
  • D. attribute of money
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55
What does the accelerator principles state?
  • A. Consumption is a function of the rate of change of income
  • B. income is a function of the rate of change of investment
  • C. Investment is a function of the rate of change of income
  • D. Investment is a function of the rate of interest
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