by Sunday | Oct 30 | Economics JAMB
A. competitive supply B. Substitute supply C. Joint supply D. Derived supply Correct Answer: Option B – Substitute supply
by Sunday | Oct 30 | Economics JAMB
A. Moves the price below OP 2 B. Leads to a fall in price from OP 1 to OP 2 C. Increases the price from OP 2 to OP 1 D. Moves the price to OP 1 Correct Answer: Option B – Leads to a fall in price from OP 1 to OP 2
by Sunday | Oct 30 | Economics JAMB
If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom’s exchange rate with Nigeria? A. $0.05 = N1.00 B. $0.06 =N1.00 C. $0.11 =N1.00 D. $0.12 =N1.00 Correct Answer: Option D – $0.12...
by Sunday | Oct 30 | Economics JAMB
A. 20% B. 71% C. 120% D. 140% Correct Answer: Option D – 140%
by Sunday | Oct 30 | Economics JAMB
A. developing B. developed C. poor D. underdeveloped Correct Answer: Option A – developing
by Sunday | Oct 30 | Economics JAMB
A. internal debts and World Bank loans B. money owed to local and foreign contractors C. internal and external debts D. loans granted by IMF and ADB Correct Answer: Option C – internal and external debts
by Sunday | Oct 30 | Economics JAMB
A. tax rate B. effect on incentive to work C. fairness of the tax D. tax burden Correct Answer: Option B – effect on incentive to work
by Sunday | Oct 30 | Economics JAMB
A. loan sought is short term B. loan repayment is guaranteed C. loan sought is long term D. the percentage of interest charged is more Correct Answer: Option C – loan sought is long term
by Sunday | Oct 30 | Economics JAMB
A. loans and overdrafts B. loans and discounting bills C. overdrafts and cheques D. overdraft and treasury bills Correct Answer: Option A – loans and overdrafts
by Sunday | Oct 30 | Economics JAMB
A. an increase in some prices B. a one-time rise in prices C. a steady fall in the purchasing power of money D. that the higher the price level, the more the value of money Correct Answer: Option C – a steady fall in the purchasing power of...