Economics Exam Past Questions and Answers | JAMB, WAEC and NECO

Economics is the study of how societies allocate limited resources to meet the unlimited needs and wants of individuals. It focuses on the production of goods and services, economic growth, and various complex issues that are important to society.

• Question 811: Money market differs from capital market in that it? Options:
  A) deals with short-term loans while capital market deals with long-term funds
  B) deals with money only while capital market deals with capital as well
  C) is limited in scope while capital market is not
  D) uses interest rate while capital does not
  Show Answer
  The correct answer is A .
• Question 812: An increase in both the legal reserve ratio and discount rate has the effect of? Options:
  A) increasing the quantity of money in circulation
  B) decreasing the quantity of money in circulation
  C) increasing the value of money
  D) decreasing the value of money
  Show Answer
  The correct answer is B .
• Question 813: Transfer payment are Options:
  A) transfer earnings
  B) money transferred from one country to another
  C) unearned income
  D) payment transferred from one account to another
  Show Answer
  The correct answer is C .
• Question 814: External finance for a limited liability company is mainly sourced through? Options:
  A) the leasing equipment
  B) the issuing of shares
  C) trade credits
  D) banks loans
  Show Answer
  The correct answer is A .
• Question 815:

  Most of the National debts is "dead weight" in the sense that is____

  Options:
  A) bound to increase from year to year
  B) accumulated as the result of past capital investment
  C) the responsibility of the treasury
  D) not covered by any real asset
  Show Answer
  The correct answer is D .
• Question 816:

  The use of the bank rate, cash ratio and open market operations constitute

  Options:
  A) fiscal policy
  B) monetary policy
  C) import policy
  D) export policy
  Show Answer
  The correct answer is B .
• Question 817: In national income accounts, an item counted as part of government spending is Options:
  A) salaries and wages
  B) pension
  C) scholarship
  D) social welfare
  Show Answer
  The correct answer is D .
• Question 818: A measure of national income used as comparison of standard of living among nations is Options:
  A) net national product
  B) gross domestic product
  C) gross national product
  D) per capita income
  Show Answer
  The correct answer is D .
• Question 819: Which of the following alternatives will NOT assist in checking the population growth in West Africa countries? Options:
  A) Immigration
  B) Brith control measures, e.g. use of contraceptives
  C) Late marriage
  D) Creating more educational opportunities for women
  E) Sex education
  Show Answer
  The correct answer is A .
• Question 820: Which of the following is NOT a type of business ownership? Options:
  A) Debenture holding
  B) private company
  C) Parnership
  D) Joint Stock venture
  Show Answer
  The correct answer is A .