Jamb Economics 2017 Past Questions and Answers

Question 1:

• JAMB 2017

Which of the following is correct?

A. Traditional budgeting focuses on goals and objectives
B. Zero based budgeting produces a single level of appropriation for an activity
C. Traditional budgeting starts with last funding appropriation
D. Zero based budgeting does not systematically consider alternatives to current operations

Question 2:

• JAMB 2017

Localization of industry is encouraged because of ________

A. Low interest charges on loans
B. Improvements in infrastructure
C. Low foreign exchange rate
D. High standard of living

Question 3:

• JAMB 2017

Which of the following is an indirect tax?

A. Poll tax
B. Personal income tax
C. Company tax
D. Excise duties

Question 4:

• JAMB 2017

Which of these is a type of partnership in business?

A. Limited partnership
B. Limited liability company
C. Private partnership
D. Joint stock partnership

Question 5:

• JAMB 2017

Which of the following is NOT a source of government revenue?

A. Grants, aids and borrowing
B. Taxes, fees, licenses and fines
C. Interest, dividends, profits and earnings
D. Personal income, disposable income and transfer earnings