Measurements of inflation - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2015

What would be likely to increase inflation in any economy?

A. Increase in demand
B. Reduce public spending
C. Control excessive import
D. Increase in direct tax

Question 2:

• JAMB 2004

The excess of aggregate expenditure over full employment level of output is referred to as

A. GNP gap
B. Deflationary gap
C. Inflation gap
D. Recessionary gap

Question 3:

• JAMB 2008

The high rate of inflation in Nigeria can be attributed to

A. Increasing cost of production
B. The appreciation of the naira
C. Decreasing cost of production
D. High capacity utilization

Question 4:

• JAMB 2021

Money becomes a very poor store of value in a period of ____________

A. Harvest
B. Deflation
C. Recession
D. Inflation