Jamb Economics 2022 Past Questions and Answers

Question 1:

• JAMB 2022

If the Central Bank increases its bank rate

A. Many banks will shut down their operations
B. Customers will borrow more from banks
C. The supply of money may be reduced
D. Interest charges by banks will fall

Question 2:

• JAMB 2022

Commercial banks are different from development banks in that the latter

A. Lend on short-term basis
B. Pay interest on current accounts only
C. Are mostly joint-stock companies
D. Do not deal in foreign currencies

Question 3:

• JAMB 2022

The use of the bank rate, cash ratio and open market operations constitute

A. Fiscal policy
B. Monetary policy
C. Import policy
D. Export policy

Question 4:

• JAMB 2022

Fiscal policy measures imply a change in

A. Only taxation to control aggregate demand
B. Bank rate to infulence lending
C. Only government expenditure to regulate an economy
D. Government revenue and expenditure to regulate an economy

Question 5:

• JAMB 2022

problems arise in all societies because

A. Resources are mismanaged by leaders
B. There is no proper planning
C. Resource are not in adequate supply
D. The services of economists are not employed