Economics Past Questions

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861

Which of the following is true about the value of money?

A. it varies inversely with the price level
B. it varies directly with the price level
C. it depreciates in the period of deflation
D. it is not affected by the price level

View Answer & Discuss JAMB 1998

862

If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which receives an initial cash deposit of N3000 is in a position to lend out?

A. N9,000
B. N3,330
C. N2,770
D. N2,100

View Answer & Discuss JAMB 1998

863

An issue of bank-notes not backed by gold but by government securities is known as?

A. fiduciary isssue
B. guaranteed money
C. seignior age
D. legal tender

View Answer & Discuss JAMB 1998

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864

A rise in the market price of fixed interest securities is an indication that the?

A. supply of money has decreased
B. liquidity preference has increased
C. market rate of interest has risen
D. market rate of interest has fallen

View Answer & Discuss JAMB 1998

865

An increase in government expenditure will lead to?

A. investment opportunities for foreign investors
B. an increase in the level of aggregate demand
C. an increase in total tax revenue
D. reduction in total tax revenue

View Answer & Discuss JAMB 1998

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