Jamb Economics 2006 Past Questions and Answers

Question 6:

• JAMB 2006

When the federal government guarantees a loan for a state government, such a loan constitutes

A. A public debt
B. A transferred debt
C. A private debt
D. An inter-governmental debt

Question 7:

• JAMB 2006

One way of controlling deflation is by

A. Contractionary monetary policy
B. Decreasing wages
C. Deficit financing
D. Rigid fiscal policy

Question 8:

• JAMB 2006

If the Central Bank of Nigeria reduces the bank rate, this will cause

A. Money supply to increase
B. Commercial banks to reduce lending
C. Commercial banks to merge
D. Money supply to reduce

Question 9:

• JAMB 2006

The main source of government revenue in Nigeria is

A. Import duties
B. Rents and royalties
C. Company income tax
D. Capital gains tax

Question 10:

• JAMB 2006

The Revenue Mobilization, Allocation and Fiscal Commission in Nigeria has the primary responsibility for

A. Maintaining the fiscal supremacy of the central government the fiscal supremacy of the central government
B. Evolving an acceptable wage for public servants
C. Evolving an acceptable revenue-sharing formula
D. Ensuring equity in the sharing of fiscal responsibilities