Money and Inflation - Jamb Economics Past Questions and Answers

Question 91:

• JAMB 2020

Which of the following is likely to be inflationary

A. Taxes increase
B. Increase in unemployment
C. Budget surplus
D. Wages increase

Question 92:

• JAMB 2020

The most important attribute of money is?

A. Homogeneity
B. Relative scarcity
C. Divisibility
D. General acceptance

Question 93:

• JAMB 2021

Inflation can be curbed by ____________

A. Deficit budget
B. Paying higher wages
C. Increased aggregate demand
D. Reducing aggregate demand

Question 94:

• JAMB 2021

Money becomes a very poor store of value in a period of ____________

A. Harvest
B. Deflation
C. Recession
D. Inflation

Question 95:

• JAMB 2021

In Nigeria, cheques are not money because ____________

A. Most Nigerians cannot identity them
B. They are not legal tender
C. There are no banks in rural areas
D. They are not generally acceptable as a medium of exchange