Deflation - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________

A. Deflation
B. Inflation
C. Devaluation
D. Revaluation

Question 3:

• JAMB 1986

Deflation is a persistent fall in the general price level and is usually caused by?

A. A reduction in total demand
B. An increase in government spending
C. An increase in the money supply
D. An increase in aggregate demand

Question 4:

• JAMB 2006

One way of controlling deflation is by

A. Contractionary monetary policy
B. Decreasing wages
C. Deficit financing
D. Rigid fiscal policy

Question 5:

• JAMB 2011

The deflationary gap is defined by

A. X
B. K
C. X + K
D. X - K