Jamb Economics Past Questions and Answers

Question 56:

• JAMB 2018

The following are measures of location except________

A. Arithmetic mean
B. Harmonic mean
C. Range
D. Geometric mean

Question 57:

• JAMB 2018

The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

A. Banks only
B. Discount houses only
C. Banks and discount houses
D. Banks, discount houses and stock, exchanges

Question 58:

• JAMB 2018

The second equation of exchange is__________

A. MV = PT
B. P = \(\frac {M}{KR}\)
C. P = \(\frac {MV}{T}\)
D. P=MV

Question 59:

• JAMB 2018

The term "Money at call and short notice" in a bank's assets represents the bank's loans to______

A. Industry and commerce
B. Overseas central banks
C. The capital market
D. The money markets

Question 60:

• JAMB 2018

An example of a vertical combination is the merger of_________

A. A spinning firm and a wearing firm
B. Two meat retailing firms
C. Two very large wholesale textile distributors
D. Three secretarial employment agencies in one town