Fiscal policy and its instruments - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2004

Maximum wage legislation seeks to

A. Fix wages above the equilibrium wage rate
B. Set wages below the equilibrium wage rate
C. Deter employers from exploiting their employees
D. Ensure an upper limit to the wages payable

Question 7:

• JAMB 2004

Fiscal policy is the government's plan to control aggregate demand by manipulating

A. The demand and supply of money
B. Revenue and expenditure
C. Tastes and preferences of consumers
D. The structure of production and employment

Question 8:

• JAMB 2005

The monetization policy of the Nigerian government is aimed at

A. Encouraging public servants to retire early and become self-employed
B. Transferring government's properties to retired public servants
C. Reducing government's burden on the provision of fringe benefits to public servants
D. Helping government recover properties held by public servants

Question 9:

• 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

Question 10:

• JAMB 2007

The monetization policy is an offshoot of

A. NEEDS
B. SAP
C. PAYE
D. MDGs