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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:

If the Central Bank increases its bank rate

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A Many banks will shut down their operations
B Customers will borrow more from banks
C The supply of money may be reduced
D Interest charges by banks will fall

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Question 2:

Commercial banks are different from development banks in that the latter

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A Lend on short-term basis
B Pay interest on current accounts only
C Are mostly joint-stock companies
D Do not deal in foreign currencies

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Question 3:

The use of the bank rate, cash ratio and open market operations constitute

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A Fiscal policy
B Monetary policy
C Import policy
D Export policy

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Question 4:

Fiscal policy measures imply a change in

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A Only taxation to control aggregate demand
B Bank rate to infulence lending
C Only government expenditure to regulate an economy
D Government revenue and expenditure to regulate an economy

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Question 5:

problems arise in all societies because

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A Resources are mismanaged by leaders
B There is no proper planning
C Resource are not in adequate supply
D The services of economists are not employed

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