JAMB Economics 2023 Objective — Question 28

Question 28 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2023 Objective paper, with the correct answer and a full explanation.

Which of the following cannot be regarded as fiscal policy?

A. (A) Tax
B. (B) government budget
C. (C) CBN ratesCorrect
D. (D) government borrowings

Explanation

Fiscal policy is a tool used by government to regulate the economy through taxation, budgets and borrowing. Since the CBN is an independent monetary authority, its rates are a monetary (not fiscal) policy tool.

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