JAMB Economics Past Questions & Answers - Page 378

1,886.

Generally, property taxes 

A.

Are borne entirely by landlords

B.

Cannot be shifted in the long run

C.

Are borne by all (renters, owner occupiers and landlords)

D.

Are borne only by renters

E.

Are borne by a few industrialist

Correct answer is C

No explanation has been provided for this answer.

1,887.

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of some form of investment. The motive which relates to making provision for the 'rainy day' is known as

A.

Speculative motive

B.

Precautionary motive

C.

Transactions motive

D.

Investment motives

E.

Rainy day motive

Correct answer is B

No explanation has been provided for this answer.

1,888.

Cost push inflation takes place due to

A.

The rapid increase in the demand for goods

B.

An increase in productivity of the factors of production

C.

A rise in the cost of production

D.

A rise in the standard of living

E.

The low wage rate of the workers

Correct answer is C

No explanation has been provided for this answer.

1,889.

ECOWAS will enable the countries involved to achieve

A.

Comparative political advantage over other countries not in the region

B.

A large market for their products

C.

Military superiority over countries not in the region

D.

Lower the transportation codt of goods wthin the region

Correct answer is B

No explanation has been provided for this answer.

1,890.

A society which forgoes present consumption

A.

Is forced to do so because of excessive consumption within the country in the past

B.

Is devoting new resources to new capital formation

C.

Is merely devoting resources to the replacement of capital

D.

Expects to consume only that amount tomorow which was forgone today

Correct answer is B

No explanation has been provided for this answer.