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21
An increase in liquid reserve requirements by the central bank of Nigeria will result in
A.
a reduction in commercial banks' excess reserves
B.
more commercial bank loan to members of the public
C.
an increase in commercial banks excess reserves
D.
no change in commercial banks excess reserves
E.
a reduction in central banks gold reserves
View Answer & Discuss (22)
JAMB 1978
22
A distinguishing characteristics of a consumers' cooperative is the fact that
A.
the customers are the owners
B.
the customers are the workers
C.
the customers are the managers
D.
the customers are low income people
E.
the customers are high income people
View Answer & Discuss (5)
JAMB 1978
23
Disposable income is the same thing as
A.
personal income minus personal savings
B.
personal inome minus taxes
C.
national income minus depriciation
D.
exports minus imports
E.
savings plus investments
View Answer & Discuss (9)
JAMB 1978
24
Marginal cost is
A.
Lowest cost of producing goods
B.
The cost of production of the most efficient firm in the industry
C.
Cost of production of the most inefficient firm in the industry
D.
The cost of production of the last or extra unit of goods produced by a firm
E.
The cost of production at which the minimum profit is obtained by a firm
View Answer & Discuss (4)
JAMB 1978
25
Which of the following is not a form of business organization
A.
A sole proprietorship
B.
Cartel
C.
Partnership
D.
Joint stock
E.
Cooperative society
View Answer & Discuss (7)
JAMB 1978
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