Jamb Economics 1986 Past Questions and Answers

Question 46:

• JAMB 1986

A society which forgoes present consumption

A. Is forced to do so because of excessive consumption within the country in the past
B. Is devoting new resources to new capital formation
C. Is merely devoting resources to the replacement of capital
D. Expects to consume only that amount tomorow which was forgone today

Question 47:

• JAMB 1986

ECOWAS will enable the countries involved to achieve

A. Comparative political advantage over other countries not in the region
B. A large market for their products
C. Military superiority over countries not in the region
D. Lower the transportation codt of goods wthin the region

Question 48:

• JAMB 1986

Which of the following methods is most likely to lead an economy?

A. An increase in wages and profits
B. An increase in consumer demand
C. A greater fraction of national Product going into investment
D. A countinuous rise in bank loans

Question 49:

• JAMB 1986

The difference between the Gross Domestic Product and the Gross National Product is?

A. Allowance for total depreciation
B. Total interest payments
C. Total tax and interest payments
D. Net income from aboard

Question 50:

• JAMB 1986

Which of the following strategies will provide more employment opportunities for Nigerians?

A. Investment in social services
B. Industrialization
C. Economics planning
D. Eradication of illiteracy