Jamb Economics 1984 Past Questions and Answers

Question 26:

• JAMB 1984

The most important factor determining the location of the cement industry in Nigeria today is ?

A. Capital and government policy
B. The nature of the product, infrastructure and government policy
C. Nearness to the market and source of power
D. Price of the product and source of labour
E. Raw materials

Question 27:

• JAMB 1984

The most important characteristic of money is?

A. Portability
B. Intrisic value
C. Acceptability
D. Usefulness
E. Beauty

Question 28:

• JAMB 1984

The Central Bank instrument of control does NOT include

A. Open market operation
B. Moral sanctions
C. Reverse requirements
D. Selective credit control
E. Printing bank-notes

Question 29:

• JAMB 1984

Cost push inflation takes place due to?

A. The rapid increase in the demand for goods
B. An increase in productivity of the factors of production
C. A rise in the cost of production
D. A rise in the standard of living
E. The low wage rate of the workers

Question 30:

• JAMB 1984

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

A. Speculative motive
B. Precautionary motive
C. Transactions motive
D. Investment motives
E. Rainy day motive