2003 - JAMB Economics Past Questions and Answers - page 3
21
The monetary control instrument most effectively used by the Central Bank of Nigeria is the
A
open market operations
B
margin requirment
C
reserve ratio
D
discount rate
correct option: a
Users' Answers & Comments22
Securities are described as listed when they are
A
mobilished as long-term debt instruments
B
traded on a recognised stock market
C
bought and sold purely for development purposes
D
mobilized as short-term debt instruments
correct option: b
Users' Answers & Comments23
An advantage of the sole proprietorship over the partnership from of business organisation is that
A
its existence is limited by an individual's life span
B
it relies on the decision of friends to succeed
C
the possibility of conflict in management is virtually non-existent
D
it enjoys limited liability for debt in the event of failure
correct option: c
Users' Answers & Comments24
The distinction between capital and recurrect expenditure lies in the
A
nature of the goods and services to be provided
B
time frame of the expenditure
C
source of the revenue generated
D
amount of expenditure involved
correct option: b
Users' Answers & Comments25
Under a floating exchange rate regime, the determinant of the exchange rate is
A
an Act of the National Assembly
B
the highest denomination of the currency
C
demand for and supply of foreign goods
D
the system of government
correct option: c
Users' Answers & Comments26
The major objective of a revenue allocation formula in a country is to
A
share revenue between the different tiers of government
B
divert revenue from areas of surplus to areas of need
C
ensures the financial viability of the country
D
share revenue between the public and private factors
correct option: a
Users' Answers & Comments27
A greater burden of the taxes on essential goods is borne by the
A
lower income group
B
higher income group
C
contract workers
D
newly recruited workers
correct option: a
Users' Answers & Comments28
Privatization and commercialization of public enterprise in Nigeria is necessitated by
A
the IBRD conditions
B
the government's loss of interest in them
C
their operational inefficiency
D
the IMF conditions
correct option: c
Users' Answers & Comments29
The effectiveness of devaluation as a solution to a balance of payments problem depends on the
A
value of visible and invisible goods
B
value of invisible items of both domestic and foreign trades
C
relative elasticities of demand and supply of imports and exports
D
foreign investments of businessmen
correct option: c
Users' Answers & Comments30
Statutory organisations usually established by Acts of Parliament are called
A
public corporations
B
cooperative societies
C
joint-stock companies
D
public enterprises
correct option: a
Users' Answers & Comments