Jamb Economics 2003 Past Questions and Answers

Question 21:

• JAMB 2003

Inflation that is usually associated with periods of trade boom is

A. Creeping inflation
B. Cost-push inflation
C. Stagflation
D. Demand-pull inflation

Question 22:

• JAMB 2003

The monetary control instrument most effectively used by the Central Bank of Nigeria is the

A. Open market operations
B. Margin requirment
C. Reserve ratio
D. Discount rate

Question 23:

• JAMB 2003

Securities are described as listed when they are

A. Mobilished as long-term debt instruments
B. Traded on a recognised stock market
C. Bought and sold purely for development purposes
D. Mobilized as short-term debt instruments

Question 24:

• JAMB 2003

An advantage of the sole proprietorship over the partnership from of business organisation is that

A. Its existence is limited by an individual's life span
B. It relies on the decision of friends to succeed
C. The possibility of conflict in management is virtually non-existent
D. It enjoys limited liability for debt in the event of failure

Question 25:

• JAMB 2003

The distinction between capital and recurrect expenditure lies in the

A. Nature of the goods and services to be provided
B. Time frame of the expenditure
C. Source of the revenue generated
D. Amount of expenditure involved