Inflation Jamb Economics Past Questions
Question 6
An economic condition in which much reduced economic activity co-exists with inflation is referred to as__________
- A. stagflation
- B. inflationary spiral
- C. slump inflation
- D. inflationary gap
Question 7
If real income increases while nominal income remains the same, it can be inferred that
- A. Unemployment rate has decreased
- B. General prices has fallen
- C. Employment rate has risen
- D. General prices have risen
Question 8
The type of inflation that emanates from excess demand overs supply is___________?
- A. Galloping inflation
- B. Imported inflation
- C. Demand-pull inflation
- D. Cost-push inflation
Question 9
The deflationary gap is defined by
- A. X
- B. K
- C. X + K
- D. X - K
Question 10
What would be likely to increase inflation in any economy?
- A. Increase in demand
- B. Reduce public spending
- C. Control excessive import
- D. Increase in direct tax
