IMF - 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 2018

When a member's currency is declared "scarce", it is the duty of the IMF to______

A. Suspend the member state indefinitely
B. Ban all exports from that state
C. Suspend dealings in that currency for one year
D. Ration it among the countries demanding it

Question 3:

• JAMB 1985

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

A. It would allowed for more money to be spent on luxuries
B. The interest rate on the loan will increase
C. It would decrease the demand for Nigeria's exports
D. It would worsen Nigeria foreign exchange situation
E. Nigerias oil would sell less in the world market

Question 4:

• JAMB 1994

The borrowing rights of a member country of the international Monetary Fund are determined by?

A. The seriousness of the country's economic problems
B. Its balance of payments position
C. Its quota to the fund
D. The size of gold reserve