Jamb Economics Past Questions For Year 2006
Question 46
The major role of NDIC is to
- A. insure bank deposits
- B. regulate the activities of insurance companies
- C. ensure adequate capitalization of insurance companies
- D. accept customers' deposit
Question 47
In computing national income, transfers are excluded because
- A. they are received only by the poor
- B. the figures reduce the size of national income
- C. it is difficult to get the exact figures
- D. they are not payments for productive activities
Question 48
The range of the data 14,13,15,18,20,35 and 13 is
- A. 20
- B. 22
- C. 13
- D. 18
Question 49
An important determinant of price elasticity of demand is
- A. the state of technology
- B. the prices of other commodities
- C. the ease of substitution
- D. government policy
Question 50
The burden of a government tax on a commodity whose demand is inelastic will
- A. be borne only by the government
- B. fall more heavily on consumers
- C. be shared equally between consumers and producers
- D. fall more heavily on producers
