Jamb Economics Past Questions and Answers

Question 2301:

• JAMB 2022

Gross National Product (GNP) less the provision for the wear and tear of assets is the

A. Net present value
B. Net national product
C. Net factor income
D. Net indirect taxes

Question 2302:

• JAMB 2022

An example of transfer payments in national income accounting is

A. Money transferred to another country
B. Unemployment allowance paid to the citizens
C. The amount paid to a worker on transfer
D. Transfer of funds from one bank to another

Question 2303:

• JAMB 2022

Increasing national income without effective control of population size in a country can lead to

A. Higher per capita income
B. Increase in poverty
C. Increased outflow of aid
D. Underutilization of resources

Question 2304:

• JAMB 2022

An example of commodity money is

A. Currency note
B. Mobile money
C. Cheques
D. Silver

Question 2305:

• JAMB 2022

If inflation is anticipated, people may

A. Save more money
B. Spend more money
C. Give out more loans
D. Spend less money