Jamb Economics Past Questions and Answers

Question 2161:

• JAMB 2020

The relationship between tax rate and income which is relevant to a proportional tax is depicted by?

A. Curve Z and Y
B. Curve X
C. Curve Z
D. Curve Y

Question 2162:

• JAMB 2020

Fiduciary issue is that part of?

A. The issue of notes backed entirely by gold
B. A country's currency that is not negotiable
C. The issue of notes not backed by gold
D. A country's currency officially issued

Question 2163:

• JAMB 2020

The type of business finances that entitles the holder to a fixed rate of dividend is?

A. Preference stock
B. Common stock
C. Debentures
D. Bank loan

Question 2164:

• JAMB 2020

A company's expenditure on raw materials is regarded as?

A. Explicit cost
B. Implicit cost
C. Prime cost
D. Average cost

Question 2165:

• JAMB 2020

Firms are often set up close to each other in order to take advantage of?

A. Supply of skilled labour
B. Agglomeration economies
C. Internal economies of scale
D. External economies of scale