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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

The most important factor determining the location of the cement industry in Nigeria today is ?

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A Capital and government policy
B The nature of the product, infrastructure and government policy
C Nearness to the market and source of power
D Price of the product and source of labour
E Raw materials

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Question 27:

The most important characteristic of money is?

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A Portability
B Intrisic value
C Acceptability
D Usefulness
E Beauty

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Question 28:

The Central Bank instrument of control does NOT include

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A Open market operation
B Moral sanctions
C Reverse requirements
D Selective credit control
E Printing bank-notes

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Question 29:

Cost push inflation takes place due to?

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A The rapid increase in the demand for goods
B An increase in productivity of the factors of production
C A rise in the cost of production
D A rise in the standard of living
E The low wage rate of the workers

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Question 30:

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

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A Speculative motive
B Precautionary motive
C Transactions motive
D Investment motives
E Rainy day motive

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