JAMB Economics Past Questions & Answers - Page 423

2,111.

Which is NOT a method of raising capital funds in Nigeria?

A.

Borrowing from abroad

B.

Internal borrowing

C.

Nigerianization of foreign companies

D.

Gifts from abroad

E.

Saling government bonds

Correct answer is C

No explanation has been provided for this answer.

2,112.

Which sector can you say is growing fastest in the Nigeria economy?

A.

Agriculture

B.

Industry

C.

Education

D.

Transport

E.

Labour

Correct answer is E

The labor market is the fastest-growing sector in the economy with the outpouring of graduates from tertiary institutions and vocational skill acquisition centers on a yearly basis. This sector comprises various skill-level personnel and in the past few years, Nigeria has witnessed a considerably high number of its skilled labor migrate to other parts of the world for greener pastures.

2,113.

Mr. A earns N300 and pays N15 in tax. Mr. B earns N100 and pays N6 in tax. This tax system can be described as?

A.

Proportional tax

B.

Progressive tax

C.

Competitive tax

D.

Excise tax

E.

Regressive tax

Correct answer is E

No explanation has been provided for this answer.

2,114.

If the price of a commodity falls and the quantity purchased of it does not rise, the commodity can be described as

A.

Normal

B.

Abnormal

C.

Inferior

D.

Superior

E.

Scarce

Correct answer is C

No explanation has been provided for this answer.

2,115.

A limited liability company is owned by?

A.

An individual

B.

Two or more partners

C.

Shareholders

D.

Government

E.

A bank

Correct answer is C

No explanation has been provided for this answer.