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Economics Past Questions and Answers

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Economics Questions

Question 2221:

One major function of the Central Bank is to

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A Mint money
B Hold demand deposit and honour cheques
C Act as a medium of exchange
D Create money
E Control and regulate money supply

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Question 2222:

Distribution involves the

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A Movement of raw materials to production centres
B Transfer of goods and services from one market to another
C Movement of goods and services by middlemen to urban centres
D Transfer of goods and services from wholesalers to consumers
E Transfer of goods and services from production centre to consumers

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Question 2223:

Disguised unemployment

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A Is a statistical artifacts with no economic meaning
B Can be eliminated if the capital output ratio is increased
C Can be eliminated if the press is free
D Calls for the implementation of five=year plans
E Exist when manpower is not being utilized efficiently

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Question 2224:

The Nigerian economy can be best describe as a

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A Socialist economy
B Capitalist economy
C Mixed economy
D Controlled economy
E Domestic economy

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Question 2225:

The amount of money to be created by commercial banks is actually influenced by the

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A Legal reserved ratio
B External reserve
C External borrowing
D Availability of money and capital market
E Bank deposits

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