JAMB and WAEC Economics questions

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

All JAMB WAEC

Question 381· Money and inflation· WAEC
The quantity theory of money states that MV = PT. If V and T are constant, an increase in M raises
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Answer: D. P
Explanation and discussion
Question 382· Money and inflation· WAEC
A persistent fall in the general price level is
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Answer: D. deflation
Explanation and discussion
Question 383· Money and inflation· WAEC
A price index rises from 120 to 150. Find the rate of inflation.
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Answer: C. 25%
Explanation and discussion
Question 384· Money and inflation· JAMB
The motives for holding money, according to Keynes, are transactions, precautionary and
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Answer: D. speculative
Explanation and discussion
Question 385· Money and inflation· WAEC
Money held to meet unforeseen emergencies is demanded for the
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Answer: B. precautionary motive
Explanation and discussion
Question 386· Money and inflation· JAMB
According to the quantity theory of money (MV = PT), if the money supply doubles while V and T remain constant, the price level will
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Answer: C. double
Explanation and discussion
Question 387· Money and inflation· JAMB
The real value of money falls when
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Answer: C. the general price level rises
Explanation and discussion
Question 388· Money and inflation· WAEC
People on fixed incomes suffer during inflation because
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Answer: A. their real income falls
Explanation and discussion
Question 389· Money and inflation· WAEC
Cost-push inflation results from
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Answer: C. rising costs of production
Explanation and discussion
Question 390· Money and inflation· JAMB
The main motive for holding money to buy everyday goods is the
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Answer: A. transactions motive
Explanation and discussion
Question 391· National income· JAMB
Gross National Product (GNP) is equal to
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Answer: A. GDP plus net income from abroad
Explanation and discussion
Question 392· National income· JAMB
Leakages from the circular flow include
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Answer: A. savings, taxes and imports
Explanation and discussion
Question 393· National income· WAEC
Gross Domestic Product measures the total value of goods and services produced
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Answer: C. within a country in a year
Explanation and discussion
Question 394· National income· JAMB
Nominal national income rises from ₦100 bn to ₦120 bn while the price index rises from 100 to 110. Real national income in the second year is about
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Answer: A. ₦109 bn
Explanation and discussion
Question 395· National income· JAMB
If the marginal propensity to save is 0.25, the investment multiplier is
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Answer: C. 4
Explanation and discussion
Question 396· National income· JAMB
With a multiplier of 4, an increase in investment of ₦10 billion raises national income by
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Answer: A. ₦40 billion
Explanation and discussion
Question 397· National income· WAEC
Per capita income is
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Answer: B. national income divided by population
Explanation and discussion
Question 398· National income· WAEC
Transfer payments such as pensions are excluded from national income because
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Answer: D. they are not payments for current production
Explanation and discussion
Question 399· National income· WAEC
National income per capita is obtained by dividing national income by the
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Answer: B. total population
Explanation and discussion
Question 400· National income· WAEC
Net national product is GNP minus
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Answer: A. depreciation
Explanation and discussion

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JAMB and WAEC Economics questions

The quantity theory of money states that MV = PT. If V and T are constant, an increase in M raises

A persistent fall in the general price level is

A price index rises from 120 to 150. Find the rate of inflation.

The motives for holding money, according to Keynes, are transactions, precautionary and

Money held to meet unforeseen emergencies is demanded for the

According to the quantity theory of money (MV = PT), if the money supply doubles while V and T remain constant, the price level will

The real value of money falls when

People on fixed incomes suffer during inflation because

Cost-push inflation results from

The main motive for holding money to buy everyday goods is the

Gross National Product (GNP) is equal to

Leakages from the circular flow include

Gross Domestic Product measures the total value of goods and services produced

Nominal national income rises from ₦100 bn to ₦120 bn while the price index rises from 100 to 110. Real national income in the second year is about

If the marginal propensity to save is 0.25, the investment multiplier is

With a multiplier of 4, an increase in investment of ₦10 billion raises national income by

Per capita income is

Transfer payments such as pensions are excluded from national income because

National income per capita is obtained by dividing national income by the

Net national product is GNP minus