JAMB Economics Past Questions & Answers - Page 220

1,096.

In a particular year, the sum of the value added in each sector of the economy was N4550 millionh. The amount represents the GNP measured by the

A.

Factor-price approach

B.

Output approach

C.

Income approach

D.

Expenditure approach

Correct answer is B

No explanation has been provided for this answer.

1,097.

Idle cash balances are held for

A.

Planned purchases

B.

The purchase of bonds

C.

The purchase of shares

D.

Unplanned purchases

Correct answer is D

No explanation has been provided for this answer.

1,098.

A discount house is a market where

A.

Various bills are exchanged

B.

Short-term and medium-term loans are obtained

C.

Shares are bought and sold

D.

Short-term loans are obtained

Correct answer is A

No explanation has been provided for this answer.

1,099.

A major assumption in a perfectly competitive market is that

A.

The number of buyers and sellers is small

B.

Individuals cannot influence prices

C.

The quality of products remains the same

D.

Prices will always remain constant

Correct answer is B

No explanation has been provided for this answer.

1,100.

Above full employment level, an expansionary monetary policy will lead to a

A.

Decrease in aggregate supply

B.

Fall in the inflation rate

C.

Rise in the inflation rate

D.

Fall in aggregate demand

Correct answer is C

No explanation has been provided for this answer.