Circular Flow Of Income Jamb Economics Past Questions
Question 6
An example of injection into the circular flow of income is
- A. taxes
- B. pensions
- C. imports
- D. exports
Question 7
In the circular flow of income, an increase in savings causes
- A. an increase in imports
- B. a decrease in the income stream
- C. an increase in household consumption
- D. a decrease in exports
Question 8
The circular flow of income defines the?
- A. relationship between ends and means in the economic system
- B. allocation of income to various members of the household
- C. flow of goods, services amd money among the various micro-sectors of the economy
- D. micro-economic relationships in economic analysis
Question 9
In its simplified form, the circular flow of income concept refers to the?
- A. real flow in goods and services between the product and factor markets
- B. monetary payment for goods and services produced by individual firms
- C. transactions in goods and services and payment for such transactions between individual firms and households.
- D. money flows associated with transactions between individual firms and households
Question 10
If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to
- A. technical progress
- B. size of the population
- C. amount of natural resources
- D. the environment
- E. the quality of human resources
