Jamb Economics 1981 Past Questions and Answers

Question 21:

• JAMB 1981

Surplus in balance of payment leads to?

A. Inflation or increasing prices generally
B. Increases in foreign reserves
C. Decreases in foreign reserves
D. Government budget surplus
E. None of the above

Question 22:

• JAMB 1981

Which of the following does NOT belong in respect of the quantity of money?

A. Durability
B. Division into the smallest units of value
C. Portable
D. Identifiable by all
E. Measure of value

Question 23:

• JAMB 1981

Government budget can be described as the sum of?

A. Indirect tax, direct tax, and loans expected within a financial year
B. Planned recurrent expenditure and planned investment expenditure
C. Planned capital expenditure for a development plan within a plan period
D. Planned expenditure and expect revenue within a financial year
E. Planned expenses of all ministries within a financial year

Question 24:

• JAMB 1981

An economy in which both the public and the private sectors contribute substantially to the growth of output is?

A. A socialist economy
B. A capitalist economy
C. A mixed economy
D. An industrial economy
E. A peasant economy

Question 25:

• JAMB 1981

Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?

A. Climate influences
B. Development of trade and markets
C. Soil fertility
D. Processing of petroleum oil
E. Concentration of educational facilities