Jamb Economics 2011 Past Questions and Answers

Question 21:

• JAMB 2011

During the era of barter, money was generally in the form of

A. Notes
B. Precious metals
C. Coins
D. Commodities

Question 22:

• JAMB 2011

A country achieves economic development when there is

A. An increase in military expenditure
B. An increase in capacity utilization
C. A sustained increase in per capital income
D. An even distribution of goods and services

Question 23:

• JAMB 2011

An indicator of growth in an economy over a period of time is the

A. GDP gap
B. GDP at factor cost
C. GDP at market price
D. GDP deflator

Question 24:

• JAMB 2011

A country embarks on deficit financing in order to

A. Increase revenue
B. Reduce aggregate demand
C. Curb inflation
D. Stimulate investment

Question 25:

• JAMB 2011

The import-substitution strategy of industrialization is to encourage

A. Domestic production
B. Large-scale production
C. Importation
D. Exportation