2011 - JAMB Economics Past Questions and Answers - page 5
41
A country achieves economic development when there is
A
an increase in military expenditure
B
an increase in capacity utilization
C
a sustained increase in per capital income
D
an even distribution of goods and services
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42
An indicator of growth in an economy over a period of time is the
A
GDP gap
B
GDP at factor cost
C
GDP at market price
D
GDP deflator
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43
A country embarks on deficit financing in order to
A
increase revenue
B
reduce aggregate demand
C
curb inflation
D
stimulate investment
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44
The import-substitution strategy of industrialization is to encourage
A
domestic production
B
large-scale production
C
importation
D
exportation
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45
Upstream oil activities involve the
A
management of pollution
B
marketing of refined products
C
exploration of crude oil
D
refining of crude oil
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46
Agricultural production in Nigeria is constrained by
A
ineffective use of stabilization measures
B
inadequate demand
C
poor implementation of policies
D
balance of payments deficits
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47
The main function of NNPC is to
A
oversee the development of the oil sector
B
develop the oil producing area
C
fix the price of products
D
ensure regular supply of products
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48
investing heavily in the agricultural sector will lead to
A
sufficient food production
B
a vibrant commodity market
C
capital inflow
D
stable export prices
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49
Industrial development in Nigeria can be encouraged through
A
signing WTO treaty
B
granting subsidies
C
the provision of efficient infrastructure
D
direct government participation
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