by Sunday | Oct 22 | Economics JAMB
A. transactionary B. speculative C. precautionary and speculative D. transactional and speculative Correct Answer: Option A – transactionary
by Sunday | Oct 22 | Economics JAMB
A. interest rate B. level of income C. exchange rate D. inflation rate Correct Answer: Option A – interest rate Explanation The speculative demand for money is simply a need for money for investment purposes, which is indirectly influenced by interest rates....
by Sunday | Oct 22 | Economics JAMB
A. net national product B. gross domestic product C. gross national product D. per capita income Correct Answer: Option D – per capita income Explanation Per capita income is a measure of the amount of income earned per person in a nation or geographical region....
by Sunday | Oct 22 | Economics JAMB
A. a higher output level B. constant returns to scale C. over-capacity utilization D. a lower output level Correct Answer: Option A – a higher output level
by Sunday | Oct 22 | Economics JAMB
A. economies of scale B. specialization C. division of labour D. diseconomies of scale Correct Answer: Option A – economies of scale Explanation Economies of scale is a proportionate saving in costs gained by an increased level of production. This means that, a...
by Sunday | Oct 22 | Economics JAMB
A. at the prevailing rate B. at the equilibrium price C. above the equilibrium price D. below the equilibrium price Correct Answer: Option C – above the equilibrium price