by Sunday | Oct 24 | Economics JAMB
A. profit tax B. sales tax C. capital gain tax D. poll tax Correct Answer: Option B – sales tax Explanation Indirect taxes are those taxes that can be shifted from one individual to another. It is not levied directly on the income of the taxpayer, but is levied...
by Sunday | Oct 24 | Economics JAMB
A. budget B. fiscal policy C. revenue allocation D. monetary policy Correct Answer: Option B – fiscal policy Explanation Fiscal policy refers to the use of government spending and tax policies to influence economic conditions such as aggregate demand for goods...
by Sunday | Oct 24 | Economics JAMB
A. control inflation B. bridge the deflationary gap C. expand the output level D. deregulate the economy Correct Answer: Option A – control inflation Explanation Contractionary monetary policy is when central banks raise interest rates and reduce the money...
by Sunday | Oct 24 | Economics JAMB
A. increasing cost of production B. the appreciation of the naira C. decreasing cost of production D. high capacity utilization Correct Answer: Option A – increasing cost of production Explanation Increase in the cost of production would lead to a rise in...
by Sunday | Oct 24 | Economics JAMB
A. money supply B. general price level C. velocity of money D. interest rate Correct Answer: Option B – general price level
by Sunday | Oct 24 | Economics JAMB
A. taxes B. pensions C. imports D. exports Correct Answer: Option D – exports Explanation In the circular flow of income, injections include the sum of government spending (G), exports (X) and investments (I).