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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

One of the functions of Development Banks is to

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A Mint money for the development of the economy
B Provide short-term loans to commercial banks
C Provide medium and long-term finance for the development of the banking system
D Provide medium and long-term finance for the development of the economy

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Question 27:

To perform its function as a store of wealth and standard for deferred payment, money must be

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A Portable
B In attractive form
C Stable in value
D Spent more on capital goods than on consumer goods

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Question 28:

Fiduciary issue is that part of?

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A The issue of notes backed entirely by gold
B A country's currency which is not negotiable
C The issue of notes not backed by gold
D A country's currency officially issued

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Question 29:

An effect of inflation is that it?

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A Discourages trade by barter
B Favours debtors at the expense of creditors
C Increases the real income of salary earners
D Increases the value of a country's exports

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Question 30:

Banks aid economic expansion and development by?

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A Being very strict in lending policies
B Mobilizing savings for investment lending
C Paying interest on deposit accounts
D Charging high interest on loans

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