Jamb Economics 1994 Past Questions and Answers

Question 31:

• JAMB 1994

Inflation n the Nigeria economy may be fueled by increase in?

A. The dollar price of crude oil
B. The sale of company shares
C. Government expenditure
D. Sale of government bonds

Question 32:

• JAMB 1994

Gresham's law in Economics shows that?

A. Good drives out bad money
B. Bad money drives out good money
C. The value of money varies inversely with the price level
D. Gold must be available to maintain the price of paper money

Question 33:

• JAMB 1994

Monetary policy aimed at reducing demand-pull inflation in the country maybe carried out through?

A. Increase in taxation of private companies, public corporations and private individuals
B. Increase in cash reserve ratio of commercial banks and the sale of government securities
C. Decrease in goverment expenditure on education
D. Direct price control in the market place

Question 34:

• JAMB 1994

Progressive tax structure is designed to?

A. Take more from the income of the poor
B. Take more from income of the rich
C. Take equal proportion of income from both the rich and the poor
D. Reduce the problems emanating from tax imposition

Question 35:

• JAMB 1994

Taxes and government expenditures are instrument of?

A. Monetary policy
B. Tax policy
C. Economic policy
D. Fiscal policy