Jamb Economics 1988 Past Questions and Answers

Question 41:

• JAMB 1988

Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?

A. Consumption expenditure
B. Indirect taxes
C. Exports and property income from abroad
D. Gross Domestic Fixed Capital Formation

Question 42:

• JAMB 1988

In estimating the national income of a country, the three approaches usually adopted are the?

A. Expenditure, value-added and output
B. Income, final product and output
C. Expenditure,income and output
D. Avoiding of double counting, final expenditure and value added

Question 43:

• JAMB 1988

If technology becomes less capital-intensive, it means?

A. An increase in the capital/labour ratio
B. An increase in the capital/ratio
C. A fall in the labour/capital ratio
D. Increased unemployment

Question 44:

• JAMB 1988

The most threatening problem for the less developed countries is?

A. The continual depletion of their soil fertility
B. The rise of nationalism
C. Population explosion
D. Their differences towards economic growth

Question 45:

• JAMB 1988

An increase in an economy's productive capacity implies?

A. An increase in the economy's rate of capital replacement
B. An increase in the economy's capital stock
C. A decrease in government spending
D. An increase in government spending