Jamb Economics 2002 Past Questions and Answers

Question 36:

• JAMB 2002

Which of the following yields more revenue to Nigeria?

A. Value added tax
B. Royalties
C. Indirect tax
D. Direct tax

Question 37:

• JAMB 2002

Import substitution aims at?

A. Substituting agricultural products with industrial ones
B. Substituting imports with agricultural exports
C. The diversification of industries
D. Improving the balance of payments

Question 38:

• JAMB 2002

One of the major criticisms of the 1992-1968 National development Plan was that?

A. It failed to incorporate lessons gained from earlier plans to enhance its efficiency
B. It came too quickly after the country's indepedence
C. Planned expenditure was based too heavily on expected earnings from crude oil
D. Its execution was based largely on foreign sourced financial resources

Question 39:

• JAMB 2002

ECOWAS has taken a giant step towards economic integration by?

A. Presenting a united front against foreign economic exploiters
B. Introducing a common currency for travellers
C. Holding frequent meeting at various state capitals
D. Increasing economic stability among members states

Question 40:

• JAMB 2002

A deficit budget can be used to?

A. Stimulate recovery from a trade depression
B. Protect the economy from inflation
C. Starve the economic of funds for economic development
D. Provide measures to remedy the balance of payments