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Economics 2003 JAMB Past Questions

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21
Securities are described as listed when they are
  • A. mobilished as long-term debt instruments
  • B. traded on a recognised stock market
  • C. bought and sold purely for development purposes
  • D. mobilized as short-term debt instruments
View Answer & Discuss (1) JAMB 2003
22
An advantage of the sole proprietorship over the partnership from of business organisation is that
  • A. its existence is limited by an individual's life span
  • B. it relies on the decision of friends to succeed
  • C. the possibility of conflict in management is virtually non-existent
  • D. it enjoys limited liability for debt in the event of failure
View Answer & Discuss JAMB 2003
23
The distinction between capital and recurrect expenditure lies in the
  • A. nature of the goods and services to be provided
  • B. time frame of the expenditure
  • C. source of the revenue generated
  • D. amount of expenditure involved
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24
Under a floating exchange rate regime, the determinant of the exchange rate is
  • A. an Act of the National Assembly
  • B. the highest denomination of the currency
  • C. demand for and supply of foreign goods
  • D. the system of government
View Answer & Discuss JAMB 2003
25
The major objective of a revenue allocation formula in a country is to
  • A. share revenue between the different tiers of government
  • B. divert revenue from areas of surplus to areas of need
  • C. ensures the financial viability of the country
  • D. share revenue between the public and private factors
View Answer & Discuss (1) JAMB 2003
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