Meaning of exchange rate - 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 1979

The lowering of the exchange rate between country's currency and other currencies is known as

A. The foreign exchange rate
B. Deflation
C. Exchange control
D. The law of comparative advantage
E. None of the above

Question 3:

• JAMB 1991

Under flexible exchange rates, a deficit could be corrected by?

A. Freezing the gold point
B. Appreciation of other currencies
C. Removing export subsidies
D. Removing tariffs