Economics Past Questions and Answers

Question 4761:

• JAMB 2023

The law of supply states that, other things being constant, as price increases

A. Supply increases
B. Supply decreases
C. Quantity supplied increases
D. Quantity supplied decreases

Question 4762:

• JAMB 2023

The demand for money will fall if

A. People expect deflation soon
B. Real GDP rises
C. Real interest rates rise
D. The GDP deflator rises

Question 4763:

• JAMB 2023

Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?

A. Lowering income taxes
B. Increasing the discount rate
C. Increasing the reserve ratio
D. Buying Treasury securities from commercial banks

Question 4764:

• JAMB 2023

If commodities X and Y are substitute, their cross elasticity of demand will be

A. One
B. Positive
C. Negative
D. Zero

Question 4765:

• JAMB 2023

The term 'investment' in macro means

A. Profit
B. Total amount of money invested in bonds and stocks
C. The total amount of capital goods in the country
D. The production of goods for immediate consumption