JAMB Economics questions

378 questions with answers and explanations. Tap an option to check yourself.

1. Question 241· Population· JAMB

   The birth rate is the number of live births per

   • A10,000 people
   • B100 people
   • C1,000 people in a year
   • Dperson

   Show answer

   Explanation and discussion

2. Question 242· Population· JAMB

   A country with a high birth rate and a falling death rate will experience

   • Aan ageing population
   • Bpopulation decline
   • Crapid population growth
   • Dno change

   Show answer

   Explanation and discussion

3. Question 243· Population· JAMB

   Brain drain refers to

   • Aimmigration of refugees
   • Brural-urban migration of farmers
   • Cemigration of skilled workers
   • Dpopulation growth

   Show answer

   Explanation and discussion

4. Question 244· Population· JAMB

   The optimum population of a country is the population at which

   • Athere is no unemployment
   • Bthe population is largest
   • Cthe birth rate equals the death rate
   • Doutput per head is at its maximum

   Show answer

   Explanation and discussion

5. Question 245· Public finance· JAMB

   A regressive tax is one that

   • Ais paid only by companies
   • Brises with income
   • Ctakes a higher proportion of income from the poor than from the rich
   • Dis the same percentage for all

   Show answer

   Explanation and discussion

6. Question 246· Public finance· JAMB

   Which of the following is one of Adam Smith's canons of taxation?

   • Asecrecy
   • Bprofitability
   • Cpopularity
   • Dcertainty

   Show answer

   Explanation and discussion

7. Question 247· Public finance· JAMB

   A proportional tax is one in which

   • Athe rate rises with income
   • Bthe same percentage is taken from all incomes
   • Cthe rate falls with income
   • Deveryone pays the same amount

   Show answer

   Explanation and discussion

8. Question 248· Public finance· JAMB

   Canons of taxation include

   • Asupply and demand
   • Bprofit and loss
   • Cequity, certainty, convenience and economy
   • Dimport and export

   Show answer

   Explanation and discussion

9. Question 249· Public finance· JAMB

   Fiscal policy involves the use of

   • Agovernment spending and taxation
   • Binterest rates only
   • Cthe exchange rate only
   • Dthe money supply only

   Show answer

   Explanation and discussion

10. Question 250· Public finance· JAMB

    Public debt is

    • Aforeign aid grants
    • Bmoney owed to banks by citizens
    • Ccompany debt
    • Dmoney owed by government

    Show answer

    Explanation and discussion

11. Question 251· Public finance· JAMB

    Fiscal policy uses

    • Agovernment spending and taxation
    • Binterest rates only
    • Cexchange rates only
    • Dprinting money only

    Show answer

    Explanation and discussion

12. Question 252· Public finance· JAMB

    Revenue allocation in Nigeria shares federally collected revenue among

    • Acompanies
    • Bbanks
    • Cfederal, state and local governments
    • Dforeign governments

    Show answer

    Explanation and discussion

13. Question 253· Public finance· JAMB

    Which of the following is a direct tax?

    • Avalue added tax
    • Bpersonal income tax
    • Cimport duty
    • Dexcise duty

    Show answer

    Explanation and discussion

14. Question 254· Public finance· JAMB

    Capital expenditure by government includes spending on

    • Aoffice stationery
    • Bsalaries
    • Croads, bridges and hospitals
    • Dpensions

    Show answer

    Explanation and discussion

15. Question 255· Public finance· JAMB

    A budget deficit occurs when

    • Athe government stops spending
    • Brevenue exceeds expenditure
    • Crevenue equals expenditure
    • Dgovernment expenditure exceeds government revenue

    Show answer

    Explanation and discussion

16. Question 256· Public finance· JAMB

    A proportional tax takes

    • Amore from the poor
    • Bmore from the rich
    • Cthe same percentage of income from everyone
    • Dnothing

    Show answer

    Explanation and discussion

17. Question 257· Public finance· JAMB

    When the burden of an indirect tax falls mainly on consumers, demand for the good is

    • Aperfectly elastic
    • Brelatively inelastic
    • Crelatively elastic
    • Dunit elastic

    Show answer

    Explanation and discussion

18. Question 258· Public finance· JAMB

    The incidence of a tax refers to

    • Athe time the tax is paid
    • Bthe rate at which the tax is charged
    • Cwhere the burden of the tax finally rests
    • Dthe agency that collects it

    Show answer

    Explanation and discussion

19. Question 259· Public finance· JAMB

    The national debt is

    • Athe total amount owed by the government
    • Bthe money owed by banks
    • Cthe value of imports
    • Dthe total of all taxes

    Show answer

    Explanation and discussion

20. Question 260· Public finance· JAMB

    Petroleum Profits Tax in Nigeria is an example of

    • Aa direct tax on companies
    • Ban indirect tax on consumers
    • Ca tariff
    • Da subsidy

    Show answer

    Explanation and discussion