Money and Inflation - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 1988

The rate at which money changes hands is known as the?

A. Rate of inflation
B. Velocity of transactions
C. Velocity of money
D. Velocity of circulation

Question 42:

• JAMB 1989

A major factor affecting the value of money is the?

A. Price level
B. Banking habit
C. Transaction motive
D. Divisible nature of money

Question 43:

• JAMB 1989

Cost-push inflation is caused by?

A. Growth of government expenditure
B. Increase in factor prices
C. Increase in money supply
D. Hoarding

Question 44:

• 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 45:

• 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