1999 - JAMB Economics Past Questions and Answers - page 4
31
The relationship between the value of money and the price level is?
A
direct
B
unpredictable
C
diverse
D
inverse
correct option: d
Users' Answers & Comments32
People hold money for?
A
charity
B
safe keeping
C
profit making
D
speculative purposes
correct option: d
Users' Answers & Comments33
Bills of exchange originates from a?
A
central bank
B
commercial bank
C
community bank
D
development bank
correct option: b
Users' Answers & Comments34
If high unemployment goes hand in hand with rising prices, the situation created is?
A
hyperinflation
B
stagflation
C
moderate inflation
D
galloping inflation
correct option: b
Users' Answers & Comments35
One of the functions money is that, it helps?
A
detect frauds in matters of exchange
B
postponed payments without loss of count
C
store information about the valuation of an item
D
record information about the valuation of an item
correct option: c
Users' Answers & Comments36
Fiscal policy involves changes in?
A
open market operations
B
revenue and expenditure of government
C
money supply to the economy
D
imports and exports
correct option: b
Users' Answers & Comments37
Economic development may be defined as economic growth?
A
in a given country
B
over a long period
C
and improved health facilities
D
and improved distribution of wealth
correct option: d
Users' Answers & Comments38
The price of a good will not be affected by the imposition of a sales tax on it if the?
A
supply is inelastic
B
demand is inelastic
C
supply is perfectly elastic
D
demand is perfectly elastic
correct option: d
Users' Answers & Comments39
A free trade area emerges when?
A
traders from one part of the country can move freely to other parts
B
customs regulation are harmonized among countries
C
a group of countries decide to remove restrictions on imports from one another
D
the UNCTAD is in force
correct option: c
Users' Answers & Comments40
De valuation helps in checking adverse balance of payments if the?
A
demand for imports is elastic
B
demand for imports is inelastic
C
supply of exports is elastic
D
demand for exports is inelastic
correct option: a
Users' Answers & Comments