Jamb 1999 Economics Past Questions And Answers
1
The relationship between the value of money and the price level is?
- A. direct
- B. unpredictable
- C. diverse
- D. inverse
2
De valuation helps in checking adverse balance of payments if the?
- A. demand for imports is elastic
- B. demand for imports is inelastic
- C. supply of exports is elastic
- D. demand for exports is inelastic
3
People hold money for?
- A. charity
- B. safe keeping
- C. profit making
- D. speculative purposes
4
Economic development may be defined as economic growth?
- A. in a given country
- B. over a long period
- C. and improved health facilities
- D. and improved distribution of wealth
5
A capitalist economy is one characterized by the?
- A. private ownership of factors of production
- B. ownership of factors of production by rich members of the society
- C. use of capital and labour in fixed proportions during production
- D. use of capital intensive methods of production
6
Bills of exchange originates from a?
- A. central bank
- B. commercial bank
- C. community bank
- D. development bank
7
Abubakar has the choice of buying either a house ruining cost. If he decides to buy the Mercedes Benz car, his opportunity cost is?
- A. N 1.5 m
- B. N 2.0m
- C. the house
- D. the car
8
One of the functions money is that, it helps?
- A. detect frauds in matters of exchange
- B. postponed payments without loss of count
- C. store information about the valuation of an item
- D. record information about the valuation of an item
9
National income at factor cost means national income at?
- A. current prices
- B. nominal prices
- C. last year prices
- D. base year prices
10
The graphs illustrate
- A. joint demand
- B. derived demand
- C. composite demand
- D. competitive demand