Jamb 2006 Economics Past Questions And Answers
1
A major advantage of industrialization is that it
- A. leads to self-reliance
- B. curbs inflation
- C. leads to growth and development
- D. improves the terms of trade
2
The only factor of production that plays an active role in the production process is
- A. land
- B. capital
- C. entrepreneur
- D. labour
3
The oil-producing area in Nigeria are agitating for special compensation owing mainly to
- A. the high level of poverty
- B. the high level of unemployment
- C. constant flooding
- D. environmental pollution
4
The major problem of conducing a census in Nigeria is
- A. inadequate skilled personnel
- B. financial constraint
- C. urban congestion
- D. lack of political will
5
One way of controlling deflation is by
- A. contractionary monetary policy
- B. decreasing wages
- C. deficit financing
- D. rigid fiscal policy
6
If children and the aged dominate the population of a country, this results in
- A. a reduction in the importation of capital goods
- B. a fall in the standard of living
- C. an increase in the national income
- D. an improvement in the standard of living
7
Personal income tax as a source of government revenue is increased when the
- A. tax rate is raised
- B. tax system is proportional
- C. retirement age is reduced
- D. tax base is contracted
8
Minimum wage legislation will result in
- A. reduced income
- B. greater supply labour
- C. reduced labour productivity
- D. greater demand for labour
9
An association formed by a group of individuals solely for the marketing of their product is a
- A. credit and thrift society
- B. consumer cooperative society
- C. producer cooperative society
- D. voluntary organization
10
The market structure in which there is interdependence of price-output policies is
- A. a pure monopoly
- B. an oligopoly
- C. a pure competition
- D. a monopolistic competition