Jamb Economics Past Questions and Answers

Question 2246:

• JAMB 2022

The largest component of national income in developing countries consist of

A. Profit
B. Profit and rent
C. Rent
D. Wages and salaries

Question 2247:

• JAMB 2022

A baker bought flour and other ingredients for S250.00, spent S52.00 on distribution, sold the bread for S320.00. The value added by the baker.

A. $302.00
B. $52.00
C. $18.00
D. $622.00

Question 2248:

• JAMB 2022

In a country with large population of full-time house wives, national income

A. Will be composed of goods produced by women
B. Figures will be grossly over-stated
C. Statistics will be difficult to calculate
D. Figures will be grossly under-estimated

Question 2249:

• JAMB 2022

Demand-pull inflation is likely to be caused by

A. An increase in the cost of factor inputs
B. Increase in the income tax rate
C. Increase in bank lending rate
D. Increasingly large budget deficit

Question 2250:

• JAMB 2022

Holding money to take care of contingencies is

A. A speculative motive
B. A transactions motive
C. A precautionary motive
D. An expansionary motive