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Economics 2010 JAMB Past Questions

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26

If MPC is 0.7 while government expenditure increased by N 150m, the equilibrium national income is

  • A. N 214 million
  • B. N 45 million
  • C. N 105 million
  • D. N 500 million
View Answer & Discuss (11) JAMB 2010
27

The function of money which makes division of labour possible is its

  • A. unit of account
  • B. store of value
  • C. medium of exchange
  • D. standard of deferred payment
View Answer & Discuss (2) JAMB 2010
28

By buying treasury bills, the Central Bank of Nigeria intends to

  • A. increase money supply in the economy
  • B. reduce the cash reserve ratio for banks
  • C. reduce money supply in the economy
  • D. increase the capital base of commercial banks
View Answer & Discuss (6) JAMB 2010
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29

One of the functions of commercial banks is

  • A. maintaining stable price in the economy
  • B. regulating monetary policies
  • C. granting loans to customers
  • D. issuing bank notes and coins
View Answer & Discuss JAMB 2010
30

In Nigeria, the huge public debt is as a result of

  • A. balanced budgeting
  • B. deficit budgeting
  • C. surplus budgeting
  • D. zero budgeting
View Answer & Discuss (6) JAMB 2010
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