2014 - JAMB Economics Past Questions and Answers - page 3
21
One of the challenges facing the banking industry in Nigeria is
A
ensuring technological security
B
providing employment
C
providing loans for investment
D
creating more money
correct option: c
Users' Answers & Comments22
Short-term loans for investment are usually obtained through the
A
stock market
B
development banks
C
money market
D
capital market
correct option: c
Users' Answers & Comments23
Given a base year and the price index of 175% the following year, which of the following year will arise?
A
The cost of living decreases of that year
B
The cost of living remains unchanged
C
The value of money rises by 75%
D
The value of money falls by 75%
correct option: a
Users' Answers & Comments24
Wage freeze is a policy measure aimed at
A
encouraging investors
B
curbing inflation
C
regulating standard of living
D
curbing deflation
correct option: b
Users' Answers & Comments25
A major obstacle to the development of Nigeria economy is
A
low capital formation
B
rural-urban migration
C
over dependence on oil
D
poor developmental policies
correct option: d
Users' Answers & Comments26
A major feature of an underdeveloped economy is
A
excess capacity utilization
B
low rate of population growth
C
low level of standard of living
D
low level of unemployment
correct option: c
Users' Answers & Comments27
An important role of agriculture in Nigeria's economic development is the
A
processing of raw materials for industries
B
regulation of price system
C
provision of infrastructure
D
provision of employment
correct option: d
Users' Answers & Comments28
An advantage of large-scale farming over peasant farming is in the area of
A
providing research and massive employment of labour
B
redistributing national income to various regions of the country
C
encouraging the use of traditional implements
D
encouraging urban-rural migration
correct option: a
Users' Answers & Comments29
A major disadvantage of localization of industry is
A
the risk of structural unemployment
B
over-utilization of installed industrial capacity
C
the risk of seasonal unemployment
D
under-utilization of installed industrial capacity
correct option: d
Users' Answers & Comments30
One major factor that determines the location of an industry is
A
tax exemption grant
B
its proximity to the market
C
the capital base
D
the social responsibility of the firm
correct option: b
Users' Answers & Comments