Jamb Economics 2007 Past Questions and Answers

Question 46:

• JAMB 2007

The non-bank financial institutions that are entrusted with workers contributions towards retirements are

A. Mortgage institutions
B. Investment companies
C. Pension funds custodians
D. Pension funds administrators

Question 47:

• JAMB 2007

A reduction in the bank rate encourages commercial banks to create money by

A. Decreasing the interest rate
B. Maintaining the interest rate
C. Doubling the interest rate
D. Raising the interest

Question 48:

• JAMB 2007

Corrections in the GNP figures for price changes require the use of a

A. Retail price index
B. Producer price index
C. Price index
D. Price deflator

Question 49:

• JAMB 2007

In the circular flow of income model, the outflow variables represent

A. Income
B. Expenditure
C. Injections
D. Leakages

Question 50:

• JAMB 2007

Life insurance companies contribute to economic development by holding a part of their assets in

A. Long-term financial instruments
B. Equipment
C. Cash and near money
D. Money-market instruments