Question 471:

• JAMB 1979

Which of the following is not a component of national income at factor cost?

A. Wages earned by doctor
B. Rent paid to landlords
C. Indirect tax
D. Undistributed company profits
E. Interest on loan

Question 472:

• JAMB 1979

which of the financial institutions cannot direct tax loans to individuals?

A. The agricultural bank
B. The Industrial bank
C. The central bank
D. The Co-operative bank
E. The Standard bank

Question 473:

• JAMB 1979

An ad valorem tax means

A. Total amount of an income tax
B. A certain percentage on the value of a commodity
C. A certain percentage tax on the volume of commodity
D. A tax on capital gain
E. A profit tax

Question 474:

• JAMB 1979

The foreign exchange rate of a country is

A. The interest rate fixed by the central bank
B. The price of one national currency in terms of another
C. The rate at which the central bank issues money
D. The rate of interest on government bonds
E. None of the above

Question 475:

• JAMB 1979

The 'terms of trade' means

A. The trade agreement between two countries
B. The difference in the volumes of exports of two countries
C. The value of a unit of export in relation to the value of a unit of import
D. The production of total value of exports to the value of total trade
E. None of the above