Question 526:

• JAMB 1980

Which of the following is NOT a function of Nigeria commercial Banks?

A. Acceptance of deposit
B. Lending of money
C. Investment in securities and business
D. Issue of currency
E. Selling and buying of travellers cheques

Question 527:

• JAMB 1980

In Nigeria, cheques are not money because?

A. Their use is confined to business houses
B. There are no banks in rular areas
C. They are not legal tender
D. They are not generally acceptable as a medium of exchange
E. Most Nigerians cannot identify them

Question 528:

• JAMB 1980

Indicate which of the following are invisible trade items in a country’s balance of payments?

A. Oil exports and imports
B. Gold and foreign reserves
C. Foreign investment
D. Dividends and profit
E. Expenditure on the shipping and tourism

Question 529:

• JAMB 1980

Which of the following is NOT a measure for controlling inflation?

A. Reduction in money supply
B. Wage restraint and wage freeze
C. Reduction in taxes and increase in government spending
D. Price control
E. Credit restriction

Question 530:

• JAMB 1980

Which of the following is NOT a determinant of changes in supply?

A. Changes in the cost of production
B. Technical progress
C. Weather
D. Changes in the number of producers
E. Changes in the number buyers