2000 - JAMB Economics Past Questions and Answers - page 4
31
An increase in money supply, other things being equal, will?
A
lower interest rates
B
reduce income
C
ensure trade balance
D
increase money demand
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32
A persistent rise in the general level of prices implies?
A
an increase in some prices
B
a one-time rise in prices
C
a steady fall in the purchasing power of money
D
that the higher the price level, the more the value of money
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33
Two principal ways by which banks can lend money to their customers are through?
A
loans and overdrafts
B
loans and discounting bills
C
overdrafts and cheques
D
overdraft and treasury bills
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34
A capital market differs from the money market in that in the former?
A
loan sought is short term
B
loan reayment is guaranteed
C
loan sought is long term
D
the percentage of interest chargedis more
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35
An aspect of taxation that involves normative economics is the?
A
]tax rate
B
effect on incentive to work
C
fairness of the tax
D
tax burden
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36
Public debt is composed of?
A
internal debts and World Bank loans
B
money owed to local and foreign contractors
C
internal and external debts
D
loans granted by IMF and ADB
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37
A country exporting mainly primary products and with a high percentage of her labour force in agriculture is said to be?
A
developing
B
developed
C
poor
D
underdeveloped
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38
A country's import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?
A
20%
B
71%
C
120%
D
140%
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39
If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?
A
$0.05 = N1.00
B
$0.06 =N1.00
C
$0.11 =N1.00
D
$0.12 =N1.00
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40
Being a member of the OPEC, Nigeria is in a favorable position to?
A
export her crude oil
B
control world crude oil prices
C
reap the benefit of a cartel
D
borrow money from members
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