Question 446:

• JAMB 1979

The central bank controls the activities of other banks by all but one of the following

A. The use of bank rate
B. The purchase or sale of government bonds on the open market
C. Special deposite
D. The use of directives
E. Taxation

Question 447:

• JAMB 1979

which of these alternative is wrong? central banks are

A. Bankers to the government
B. Bankers to commercial banks
C. Merchant banks
D. Controllers and regulators of money supply
E. Issuers of bank note

Question 448:

• JAMB 1979

The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions

A. There are restrictions in trade
B. There are no cost of transportations
C. Ther is perfect competition
D. There are no tariff or import and export quota
E. There are only two countries and only two commodities entering into international trade

Question 449:

• JAMB 1979

Which of the following is not a direct tax?

A. Company income tax
B. Capital tax
C. Purchase tax
D. Personal income tax
E. Capital gain tax

Question 450:

• JAMB 1979

Division of labour means

A. Dividing the labour into different categories
B. Splitting the process of production into different parts to be completed by each person
C. Dividing the goods and services into different sections
D. Assigning different duties to labourers
E. Group of labourers working in a factory or shop