Types Characteristics And Functions Of Money - Economics Jamb Past Questions and Answers

Question 6 :

• JAMB 1984

The most important characteristic of money is?

A. Portability
B. Intrisic value
C. Acceptability
D. Usefulness
E. Beauty

Question 7 :

• JAMB 1985

Because money serves as a standard for deferred payments

A. It serves as a store of value
B. Goods can be bought on credit with pre-determined value
C. Future trade becomes possible
D. It serves as a unit of account
E. It becomes valuable

Question 8 :

• JAMB 1991

To perform its function as a store of wealth and standard for deferred payment, money must be

A. Portable
B. In attractive form
C. Stable in value
D. Spent more on capital goods than on consumer goods

Question 9 :

• JAMB 1991

Fiduciary issue is that part of?

A. The issue of notes backed entirely by gold
B. A country's currency which is not negotiable
C. The issue of notes not backed by gold
D. A country's currency officially issued

Question 10 :

• JAMB 1994

An increase in both the legal reserve ratio and discount rate has the effect of?

A. Increasing the quantity of money in circulation
B. Decreasing the quantity of money in circulation
C. Increasing the value of money
D. Decreasing the value of money