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2009 - JAMB Economics Past Questions and Answers - page 3

21

Double counting is a problem in computing national income when using the

A
expenditure method
B
income method
C
output method
D
value-added method
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22

In the circular flow of income, an increase in savings causes

A
an increase in imports
B
a decrease in the income stream
C
an increase in household consumption
D
a decrease in exports
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23

The ability of commercial banks to create money depends on the

A
reserve ratio
B
liquidity ratio
C
interest rate
D
capital base
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24

The reform in the banking sector in Nigeria is principally motivated by the need to

A
increase the capital base of banks
B
provide more money to run the economy
C
minimize the rate of bank failures
D
enhance efficiency in bank operations
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25

A manufacturer who wants to build a new plant will source funds from the

A
commercial banks
B
money market
C
capital market
D
government
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26

Cost-push inflation occurs when

A
production cost is high
B
factor prices decrease
C
there is too much money in circulation
D
government embarks on deficit financing
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27

If government expenditure exceeds revenue, this result in

A
balanced budget
B
national debt
C
budget deficit
D
budget surplus
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28

The Basic Needs Approach to development is

A
poverty alleviation
B
provision of educational infrastructure
C
provision of health services
D
improvement in workers income
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29

If government expenditure exceeds revenue, this result in

A
balanced budget
B
national debt
C
budget deficit
D
budget surplus
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30

The major reason why countries strive to achieve optimum growth is to

A
be self-sufficient
B
raise general living standards
C
raise the level of production
D
reduce aggregate expenditure
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