2002 - JAMB Economics Past Questions and Answers - page 2
11
In Nigeria, the bank that can correctly be described as a unit bank is?
A
the Central Bank
B
people's bank
C
mortgage bank
D
community bank
correct option: a
Users' Answers & Comments12
If the country's GNP in the current year is N50 billion, and the GNP in the base year N50 billion, the GNP deflector is?
A
130.0
B
30.0
C
15.0
D
1.3
correct option: c
Users' Answers & Comments13
In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume 0.8. The value of the multiplier is?
A
2.5
B
2.6
C
2.7
D
2.4
correct option: a
Users' Answers & Comments14
Insurance companies invest mainly in instruments trade on the?
A
capital market
B
Money market
C
commodity market
D
open market
correct option: a
Users' Answers & Comments15
Liquidity preference refers to the?
A
needs to borrow money for short periods to meet some temporary crises
B
wish to hold more funds for precautionary purpose
C
need to increase the money supply in order to lower the interest rate
D
demand to hold money as assets rather than as stocks
correct option: d
Users' Answers & Comments16
Creeping inflation implies that there is a?
A
gentle and persistent increase in the general price level
B
rapid and persistent increase in the general price level
C
gentle but not permanent increase in the general price level
D
rapid but not permanent increase in the general price level
correct option: a
Users' Answers & Comments17
The primary objective of the NDIC is to?
A
give protection to the CBN against fraud
B
provide regulations guiding the finance houses
C
give protection against fraud
D
give protection to bank depositors
correct option: d
Users' Answers & Comments18
Excess demand inflation can be controlled through?
A
contractionary fiscal policy
B
contractionary trade policy
C
expansionary fiscal policy
D
expansionary monetary policy
correct option: a
Users' Answers & Comments19
The middlemen in the chain of distribution are?
A
manufacturers and consumers
B
wholesalers and retailers
C
consumers and wholesalers
D
retailers and consumers
correct option: b
Users' Answers & Comments20
If the growth rate of available resources continuously outpaces that of the population, a country will eventually experience?
A
maximum population
B
underpopulation
C
overpopulation
D
optimum population
correct option: b
Users' Answers & Comments