Jamb Economics 2015 Past Questions and Answers

Question 16:

• JAMB 2015

Disposable income is total income

A. Less tax
B. Divided by tax
C. Plus tax
D. Multiplied by tax

Question 17:

• JAMB 2015

In which of the following economic systems do we have the means of production and exchange controlled by private individuals

A. Socialist system
B. Mixed system
C. Capitalist system
D. Traditional system

Question 18:

• JAMB 2015

The situation whereby the government of a country spends more than its budgets for a given financial year is known as

A. Surplus budget
B. Deficit budget
C. Balanced budget
D. Minus budget

Question 19:

• JAMB 2015

The total stock of money available for use in an economy is

A. Supply of money
B. Value of money
C. Demand for money
D. Attribute of money

Question 20:

• JAMB 2015

What does the accelerator principles state?

A. Consumption is a function of the rate of change of income
B. Income is a function of the rate of change of investment
C. Investment is a function of the rate of change of income
D. Investment is a function of the rate of interest