2004 - JAMB Economics Past Questions and Answers - page 1
1
Given that Y = C + I and C = bY where b = 0.8, what is the multiplier?
A
5
B
10
C
4
D
2
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2
By advertising, a monopolistic competitive firm tries to shift its
A
supply curve to the right
B
demand curve to the right
C
supply curve to the left
D
demand curve to the left
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3
The role of the Central Bank in the economic development of Nigeria is to
A
give short-and medium-term loans to the public
B
give financial and technical advice to customers
C
use cheques and bankdrafts to faciliate business transactions
D
maintain a stable price system
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4
At the maximum point of the total product curve of a firm, marginal revenue is
A
decreasing
B
increasing
C
constant
D
zero
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5
The primary function of non-bank financial institutions is to
A
manage investment portfolios for government
B
mobilize savings for investment
C
grant loans to banks
D
receive deposits from banks
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6
In an open economy, the GNP is measured as
A
C+I+G+X
B
C+I+G+(X-M)
C
C+I+G+M
D
C+I+G
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7
The capital market provides business firms with the avenue to
A
lease capital equipment
B
obtain long-term funds
C
obtain short-term funds
D
purchase capital equipment
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8
Which financial institution is charged with the formulation of monetary polices in Nigeria?
A
The Central Bank of Nigeria
B
The Nigeria Deposit Insurance Corporation
C
The Abuja Commodity Exchange
D
The Lagos Stock Exchange
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9
GDP differs from GNP because GDP
A
is inclusive of depreciation
B
emphasizes the final goods and service produced within the country at a particular period
C
emphasizes the goods and services within the country
D
emphasizes the market value of all final goods and services produced by nationals
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10
The distinction between perfect competition and monoplistic competition is that the latter is characterized by
A
a single market price
B
many buyers and sellers
C
product differentiation
D
homogeneity of product
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