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Economics 2022 JAMB Past Questions

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36

An example of transfer payments in national income accounting is

  • A. money transferred to another country
  • B. unemployment allowance paid to the citizens
  • C. the amount paid to a worker on transfer
  • D. transfer of funds from one bank to another
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37

Increasing national income without effective control of population size in a country can lead to

  • A. higher per capita income
  • B. increase in poverty
  • C. increased outflow of aid
  • D. underutilization of resources
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38

An example of commodity money is

  • A. currency note
  • B. mobile money
  • C. cheques
  • D. silver
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39

If inflation is anticipated, people may

  • A. save more money
  • B. spend more money
  • C. give out more loans
  • D. spend less money
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40

If the Central Bank increases its bank rate

  • A. many banks will shut down their operations
  • B. customers will borrow more from banks
  • C. the supply of money may be reduced
  • D. interest charges by banks will fall
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