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Economics 2019 JAMB Past Questions

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51

Let the quantity demanded in units of a particular commodity be represented as Qd = 80 - 2P, find the quantity demanded when P = ₦3.

  • A. 70
  • B. 47
  • C. 74
  • D. 40
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52

The following are measures of location except________

  • A. Arithmetic mean
  • B. Harmonic mean
  • C. Range
  • D. Geometric mean
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53

The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

  • A. banks only
  • B. discount houses only
  • C. banks and discount houses
  • D. banks, discount houses and stock, exchanges
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54

The second equation of exchange is__________

  • A. MV = PT
  • B. P = \(\frac {M}{KR}\)
  • C. P = \(\frac {MV}{T}\)
  • D. P=MV
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55

The term "Money at call and short notice" in a bank's assets represents the bank's loans to______

  • A. industry and commerce
  • B. overseas central banks
  • C. the capital market
  • D. the money markets
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