Money and Inflation - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 1981

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

A. Deflation
B. Stable prices
C. Recession
D. Inflation
E. Harvest

Question 22:

• JAMB 1981

The function of money as a standard of deferred payments

A. Make possible for an individual to build up store of many things for future use
B. Makes it possible for payment to be postponed from the present to a future date
C. Facilitate the exchange of goods
D. Makes easy calculations possible
E. None of the above

Question 23:

• JAMB 1981

Which of the following does NOT belong in respect of the quantity of money?

A. Durability
B. Division into the smallest units of value
C. Portable
D. Identifiable by all
E. Measure of value

Question 24:

• JAMB 1981

Inflation is likely to benefit?

A. Persons with bank savings
B. Persons employed in financial houses
C. Debtors
D. Persons who lived on fixed pension funds
E. Creditors

Question 25:

• JAMB 1982

Demand for money for speculative purposes means?

A. Buying goods and services whose prices have risen
B. Keeping money for unforseen expenditure
C. Buying financial assets because of possible gains
D. Buying real estate
E. Keeping money for a rainy day