Jamb Economics 2012 Past Questions and Answers

Question 26:

• JAMB 2012

The money that commands a higher market value than its face value is called

A. Paper money
B. Standard money
C. Commodity money
D. Fiat money

Question 27:

• JAMB 2012

The minimum amount which banks are required to deposit with the central bank is determined by the

A. Liquidity ratio
B. Cash reserve ratio
C. Minimum lending rate
D. Aggregate credit ceiling

Question 28:

• JAMB 2012

The major function of money market is to

A. Provide funds for long-term financing
B. Provide funds short-term financing
C. Stabilize the value of the local currency
D. Stabilize domestic prices

Question 29:

• JAMB 2012

An ad valorem tax is imposed on

A. Special commodities
B. Exports
C. Imports
D. The value of a commodity

Question 30:

• JAMB 2012

A huge national debt is an indication that the gold reserves of a nation has

A. Appreciated
B. Decreased
C. Depreciated
D. Stagnated