Jamb Economics 2020 Past Questions and Answers

Question 31:

• JAMB 2020

When a country's population is experiencing increasing returns, that country is said to be?

A. Overpopulated
B. Economically poor
C. Over-producing goods and services
D. Under-populated

Question 32:

• JAMB 2020

The most important attribute of money is?

A. Homogeneity
B. Relative scarcity
C. Divisibility
D. General acceptance

Question 33:

• JAMB 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

A. Evasion
B. Avoidance
C. Relief
D. Exemption

Question 34:

• JAMB 2020

The Economic Commission for Africa was set up by the?

A. UNO
B. ECOWAS
C. OAU
D. IMF

Question 35:

• JAMB 2020

One of the techniques of monetary control used by the central bank of Nigeria is

A. Selective credit control
B. Budget deficit
C. Foreign exchange control
D. Monitoring the general price level