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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

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A Elastic in both markets
B Uniltary elastic in both market
C Inelastic in both markets
D Elastic in one market and inelastic in the other
E Unitary elastic in none of the markets

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Question 42:

Demand for money for speculative purposes means?

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A Buying goods and services whose prices have risen
B Keeping money for unforseen expenditure
C Buying financial assets because of possible gains
D Buying real estate
E Keeping money for a rainy day

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Question 43:

If the Central Bank intends to increase the money supply through open market operations then it will

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A Sell securities in the open market
B Buy securities in the open market
C Issues more currency note
D Withdraw money supply from the market
E Print more demand deposit

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Question 44:

When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

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A Tariffs
B Quotas
C Exchnge control
D Devaluation
E Revaluation

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Question 45:

Balance of payments of a country explains the overall position of?

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A Current account of the balance of payments
B Capital account in the balance of payments
C Both the current and capital acounts
D Position of the balance of trade
E Visible and invisible trade

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