Question 651:

• JAMB 1983

In an inflationary period which of the following statements is NOT true?

A. Wages rise simultaneously with prices
B. The purchasing power of money diminishes
C. More money runs after a limited quantity of goods
D. Money supply increases
E. Aggregate real demand exceeds aggregate real supply

Question 652:

• JAMB 1983

Retailers in an economy perform the function of

A. Production
B. Exchange
C. Distribution
D. Horading
E. Investment

Question 653:

• JAMB 1983

In a sole proprietorship, the decisions are made by the?

A. Governmnet
B. Borad of directors
C. Management
D. Shareholders'conference
E. Owner

Question 654:

• JAMB 1983

Which of the following enterprises does NOT pursue the sole objective of profit maximization?

A. Roads of Nigeria Ltd
B. Union Bank of Nigeria Ltd
C. Nigeria Electric Power Authority
D. Volkswagen (VW) Nigeria Ltd
E. Kingsway Nigeria Ltd

Question 655:

• JAMB 1983

Public expenditure creates expansionary effects in the economy when it is

A. In excess of government revenue
B. Channelled into capital products
C. Diverted into imports
D. Financed through part of the year's total collection of taxes