JAMB Economics Past Questions & Answers - Page 257

1,281.

A country exporting mainly primary products and with a high percentage of her labour force in agriculture is said to be

A.

Developing

B.

Developed

C.

Poor

D.

Underdeveloped

Correct answer is A

No explanation has been provided for this answer.

1,282.

Public debt is composed of

A.

Internal debts and World Bank loans

B.

Money owed to local and foreign contractors

C.

Internal and external debts

D.

Loans granted by IMF and ADB

Correct answer is C

No explanation has been provided for this answer.

1,283.

An aspect of taxation that involves normative economics is the

A.

Tax rate

B.

Effect on incentive to work

C.

Fairness of the tax

D.

Tax burden

Correct answer is B

No explanation has been provided for this answer.

1,284.

A capital market differs from the money market in that in the former

A.

Loan sought is short term

B.

Loan reayment is guaranteed

C.

Loan sought is long term

D.

The percentage of interest charged is more

Correct answer is C

No explanation has been provided for this answer.

1,285.

Two principal ways by which banks can lend money to their customers are through

A.

Loans and overdrafts

B.

Loans and discounting bills

C.

Overdrafts and cheques

D.

Overdraft and treasury bills

Correct answer is A

No explanation has been provided for this answer.