Jamb Economics 1983 Past Questions and Answers

Question 16:

• JAMB 1983

In a sole proprietorship, the decisions are made by the?

A. Governmnet
B. Borad of directors
C. Management
D. Shareholders'conference
E. Owner

Question 17:

• JAMB 1983

Which of the following enterprises does NOT pursue the sole objective of profit maximization?

A. Roads of Nigeria Ltd
B. Union Bank of Nigeria Ltd
C. Nigeria Electric Power Authority
D. Volkswagen (VW) Nigeria Ltd
E. Kingsway Nigeria Ltd

Question 18:

• JAMB 1983

Public expenditure creates expansionary effects in the economy when it is

A. In excess of government revenue
B. Channelled into capital products
C. Diverted into imports
D. Financed through part of the year's total collection of taxes

Question 19:

• JAMB 1983

The maintenance of general economic stability in the country necessarily relies heavily on?

A. Federal fiscal policy
B. Coordinated federal, state and local fiscal policies
C. Tax and revenue policies of state governments
D. Federal grants to state and local government
E. Federal grants to local governments

Question 20:

• JAMB 1983

The supply of loanable funds is significantly influenced by?

A. Commercial banks
B. Mortage banks
C. Financial intermediaries
D. The Central Bank
E. Insurance companies