Question 716:

• JAMB 1984

Cost push inflation takes place due to?

A. The rapid increase in the demand for goods
B. An increase in productivity of the factors of production
C. A rise in the cost of production
D. A rise in the standard of living
E. The low wage rate of the workers

Question 717:

• JAMB 1984

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

A. Speculative motive
B. Precautionary motive
C. Transactions motive
D. Investment motives
E. Rainy day motive

Question 718:

• JAMB 1984

Generally, property taxes?

A. Are borne entirely by landlords
B. Cannot be shifted in the long run
C. Are borne by all (renter, owner occupiers and landlords)
D. Are borne only by renters
E. Are borne by a few industrialist

Question 719:

• JAMB 1984

One of the major effects of an increase in government expenditure on a nation’s economy is that it?

A. Creates investment opportunities for foreign investors
B. Leads to indigenization of the private sector
C. Raises the level of total tax revenue
D. Raises the level of aggregate demand
E. Controls the spread of monopoly

Question 720:

• JAMB 1984

Public expenditure on services, such as education and health, is known as expenditure on

A. General services
B. Community services
C. Social services
D. Economic services
E. Administrative services