Jamb Economics 1982 Past Questions and Answers

Question 41:

• JAMB 1982

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

A. Elastic in both markets
B. Uniltary elastic in both market
C. Inelastic in both markets
D. Elastic in one market and inelastic in the other
E. Unitary elastic in none of the markets

Question 42:

• JAMB 1982

Demand for money for speculative purposes means?

A. Buying goods and services whose prices have risen
B. Keeping money for unforseen expenditure
C. Buying financial assets because of possible gains
D. Buying real estate
E. Keeping money for a rainy day

Question 43:

• JAMB 1982

If the Central Bank intends to increase the money supply through open market operations then it will

A. Sell securities in the open market
B. Buy securities in the open market
C. Issues more currency note
D. Withdraw money supply from the market
E. Print more demand deposit

Question 44:

• JAMB 1982

When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

A. Tariffs
B. Quotas
C. Exchnge control
D. Devaluation
E. Revaluation

Question 45:

• JAMB 1982

Balance of payments of a country explains the overall position of?

A. Current account of the balance of payments
B. Capital account in the balance of payments
C. Both the current and capital acounts
D. Position of the balance of trade
E. Visible and invisible trade