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
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32
People hold money for?
A
charity
B
safe keeping
C
profit making
D
speculative purposes
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33
Bills of exchange originates from a?
A
central bank
B
commercial bank
C
community bank
D
development bank
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34
If high unemployment goes hand in hand with rising prices, the situation created is?
A
hyperinflation
B
stagflation
C
moderate inflation
D
galloping inflation
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35
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
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36
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
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37
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
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38
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
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39
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
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40
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
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