Jamb Economics 1999 Past Questions and Answers

Question 31:

• JAMB 1999

Inflation which is caused mainly increases in the prices of factors of production is described as?

A. Cost-push inflation
B. Demand-pull inflation
C. Crawling inflation
D. Spiral inflation

Question 32:

• JAMB 1999

The relationship between the value of money and the price level is?

A. Direct
B. Unpredictable
C. Diverse
D. Inverse

Question 33:

• JAMB 1999

People hold money for?

A. Charity
B. Safe keeping
C. Profit making
D. Speculative purposes

Question 34:

• JAMB 1999

Bills of exchange originates from a?

A. Central bank
B. Commercial bank
C. Community bank
D. Development bank

Question 35:

• JAMB 1999

If high unemployment goes hand in hand with rising prices, the situation created is?

A. Hyperinflation
B. Stagflation
C. Moderate inflation
D. Galloping inflation