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Economics Past Questions and Answers

Jamb Economics Questions

Question 31:

The Nigeria Bank for Commerce and Industry is?

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A A commercial Bank
B A developmment bank
C An industrial bank
D A merchant bank

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Question 32:

To control inflation, the monetary authorities of a country can?

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A Reduce taxes
B Advise government to increase its expenditure
C Engage in expansive monetary policy
D Engage inrestrictive monetary policy

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Question 33:

Which of the following is used by the Central Bank to control the rate of interest?

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A Bill of Exchange
B Banker's order
C Fixed deposit account
D Open market operation

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Question 34:

Gresham's law in economics shows that

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A Bad money drives good money out of circulation
B Good money drives bad money out of circulation
C Gold must be available to maintain the value of paper money
D The price level varies directly with the quality of money

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Question 35:

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

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A N100.00
B N1,000.00
C N9,000.00
D N10,000.00

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