by Sunday | Oct 21 | Economics JAMB
A. (Price index of export ÷ Price index of export) × 100 B. (price index of import ÷ price index of export) × 100 C. (Price index of export ÷ Price index of import) × 100 D. (Price index of export ÷ Price index of import) × 100 Correct Answer: Option C – (Price...
by Sunday | Oct 21 | Economics JAMB
A. Increase in demand B. Reduce public spending C. Control excessive import D. Increase indirect tax Correct Answer: Option A – Increase in demand Explanation Excess demand without a corresponding increase in supply causes...
by Sunday | Oct 21 | Economics JAMB
A. regressive tax B. progressive tax C. value added tax D. proportional tax Correct Answer: Option A – regressive tax Explanation A regressive tax falls as incomes increases while progressive tax rises as income increases. Proportional tax is a flat rate while...
by Sunday | Oct 21 | Economics JAMB
A. proportional tax B. regressive tax C. value added D. progressive tax Correct Answer: Option A – proportional tax Explanation A proportional tax is a flat rate payment of tax. The same level of tax is paid irrespective of the level of income or...
by Sunday | Oct 21 | Economics JAMB
A. total cost B. variable cost C. fixed cost D. marginal cost Correct Answer: Option C – fixed cost
by Sunday | Oct 21 | Economics JAMB
A. Theory of consumer behaviour B. Theory of cost C. Theory of production D. Theory of value Correct Answer: Option C – Theory of production