Types Of Exchange Rate - Economics Jamb Past Questions and Answers

Question 6 :

• JAMB 2000

If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?

A. $0.05 = N1.00
B. $0.06 =N1.00
C. $0.11 =N1.00
D. $0.12 =N1.00

Question 7 :

• JAMB 2003

Under a floating exchange rate regime, the determinant of the exchange rate is

A. An Act of the National Assembly
B. The highest denomination of the currency
C. Demand for and supply of foreign goods
D. The system of government

Question 8 :

• JAMB 2006

The exchange rate determined by market forces is known as

A. Pegged exchange rate
B. Floating exchange rate
C. Fixed exchange rate
D. Dual exchange rate