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126
A commercial bank is able to create money
  • A. by printing it
  • B. by maintaining reserve
  • C. by creating a demand deposit as it gives a new loan
  • D. by issuing cheques to depositors
  • E. by borrowing from the central bank
View Answer & Discuss JAMB 1980
127
Which of the following is NOT one of the balance of payment entries?
  • A. the current account
  • B. foreign exchange
  • C. Import and Export duties
  • D. Short-term capital
  • E. Long-term capital
View Answer & Discuss JAMB 1980
128
Which of the taxes appear generally progressive in nature?
  • A. Sales taxes
  • B. The personal income tax
  • C. Property taxes
  • D. Corporation taxes
  • E. none of the above
View Answer & Discuss (2) JAMB 1980
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129
In a subsistence economy?
  • A. there is no shortage of goods and services
  • B. the state is the sole owner of resources
  • C. production is largely oriented towards consumption in the rular sector
  • D. there is no exchange of goods and services
  • E. women predominate in all economic activities
View Answer & Discuss JAMB 1980
130
In a normal (typical) demand schedule, the quantity demand is?
  • A. directly related to price
  • B. inversely related to price
  • C. independent of price
  • D. proportional related to supply
  • E. solely dependent on haggling skill
View Answer & Discuss (2) JAMB 1980
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