Jamb Economics 1980 Past Questions and Answers

Question 6:

• JAMB 1980

Which is NOT a function of Central Bank in West Africa

A. Dealing in foreign exchange
B. Issuing of currency
C. Accepting deposit from private customers
D. Acting as government bank
E. Acting as bankers bank

Question 7:

• JAMB 1980

Which is NOT a cause of high population growth in Nigeria?

A. Family planing Unit of Nigeria
B. Improve medical facilities
C. Reduction in death rate
D. Improve hygiene
E. Increased birth rate

Question 8:

• JAMB 1980

Commercial banks can create money in the following ways?

A. By using coins and paper money
B. By borrowing money from banks abroad
C. By receiving deposit from individuals
D. By printing money on the instruction of the central bank
E. None of the above

Question 9:

• JAMB 1980

Utility of a commodity means?

A. Its usefulness
B. Power to satisfy a want
C. Price of the commodity
D. Satisfaction derived from the product of commodity
E. Its adaptability

Question 10:

• JAMB 1980

International trade arise because?

A. One country has more abundant resource
B. One country has the technology to produce the commodity whilst the other has not
C. One country has the maximum comparative advantage or minimum comparative disadvantage in the production
D. One country has manpower to produce the commodity than the country
E. All of the above