Jamb Economics 1979 Past Questions and Answers

Question 31:

• JAMB 1979

If a government is running deficit, this means

A. A term of trade are unfavourable
B. More project cannot be undertaken
C. Tax inflow is greater than expenditure
D. Aggregate demand is greater than aggregate supply
E. Tax inflow is less than expenditure

Question 32:

• JAMB 1979

Pure monopoly describes market where

A. There are many sellers and a few buyers
B. Goods are sold at different price
C. Entry is not blocked, but no one cares to enter
D. A few sellers and one buyer exist
E. None of the above

Question 33:

• JAMB 1979

Which of the following assets of the commercial bank does not yield revenue?

A. Money in the tills of the bank
B. Money at call
C. Treasury certificates
D. Treasury bills
E. Bills of exchange

Question 34:

• 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 35:

• 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