Jamb Economics Past Questions and Answers

Question 1751:

• JAMB 2006

One way of controlling deflation is by

A. Contractionary monetary policy
B. Decreasing wages
C. Deficit financing
D. Rigid fiscal policy

Question 1752:

• JAMB 2006

If the Central Bank of Nigeria reduces the bank rate, this will cause

A. Money supply to increase
B. Commercial banks to reduce lending
C. Commercial banks to merge
D. Money supply to reduce

Question 1753:

• JAMB 2006

The main source of government revenue in Nigeria is

A. Import duties
B. Rents and royalties
C. Company income tax
D. Capital gains tax

Question 1754:

• 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 1755:

• JAMB 2006

The burden of a government tax on a commodity whose demand is inelastic will

A. Be borne only by the government
B. Fall more heavily on consumers
C. Be shared equally between consumers and producers
D. Fall more heavily on producers