Jamb Economics 2013 Past Questions and Answers

Question 21:

• JAMB 2013

A measure of national income used as comparison of standard of living among nations is

A. Net national product
B. Gross domestic product
C. Gross national product
D. Per capita income

Question 22:

• JAMB 2013

The speculative demand for money is inversely related to the

A. Interest rate
B. Level of income
C. Exchange rate
D. Inflation rate

Question 23:

• JAMB 2013

If Mr .K obtains a N50.000 loan from a bank for the purpose of providing household needs, the demand for money is said to be

A. Transactionary
B. Speculative
C. Precautionary and speculative
D. Transactional and speculative

Question 24:

• JAMB 2013

Which of the following is used by the Central Bank of Nigeria to control inflation?

A. Tariff on imports
B. Tax rate
C. Exchange rate
D. Discount rate

Question 25:

• JAMB 2013

If CBN reduces money supply, the interest rate will

A. Fluctuate
B. Rise
C. Fall
D. Remain unchanged