2012 - JAMB Economics Past Questions and Answers - page 5
41
A deficit balance of payments is measured by subtracting the debits from the credits in the
A
current account
B
current and capital accounts
C
current and escrow accounts
D
capital and escrow accounts
correct option: d
Users' Answers & Comments42
One of the functions of ECOWAS is to
A
provide funds for infrastructural development
B
determine prices of exports
C
redistribute income among citizens
D
provide employment for citizens of member nations
correct option: b
Users' Answers & Comments43
The reward on machinery and equipment in the process of production is known as
A
profit
B
interest
C
rent
D
wages
correct option: b
'Capital' - investment in man-made aids to production including buildings, factories, computers. The reward for capital is interest.
Users' Answers & Comments44
A
67.5
B
40.0
C
32.4
D
25.0
correct option: d
Users' Answers & Comments45
A
N11.7 billion
B
N13.3 billion
C
N21.7 billion
D
N26.6 billion
correct option: d
Users' Answers & Comments46
A
5.0
B
2.0
C
1.0
D
0.5
correct option: d
Users' Answers & Comments
48
A
consumption of X and reduce the consumption of Y
B
expenditure on Y
C
expenditure on X
D
consumption of Y and reduce the consumption of X
correct option: c
Users' Answers & Comments49
A
full employment of resources
B
unemployment
C
inflation
D
full employment of factors of production
correct option: d
Users' Answers & Comments