Jamb Economics Past Questions and Answers

Question 2361:

• JAMB 2023

Among all the determinants of economic growth, the most important one is

A. Human capital
B. Increased GDP
C. Land and Natural resources
D. Technologies

Question 2362:

• JAMB 2023

An increase in money income with constant price results in

A. Outward shift in the budget line
B. Inward parallel shift in the budget line
C. Options A and C
D. Budget line remain constant

Question 2363:

• JAMB 2023

The law of supply states that, other things being constant, as price increases

A. Supply increases
B. Supply decreases
C. Quantity supplied increases
D. Quantity supplied decreases

Question 2364:

• JAMB 2023

The demand for money will fall if

A. People expect deflation soon
B. Real GDP rises
C. Real interest rates rise
D. The GDP deflator rises

Question 2365:

• JAMB 2023

Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?

A. Lowering income taxes
B. Increasing the discount rate
C. Increasing the reserve ratio
D. Buying Treasury securities from commercial banks