JAMB Economics Past Questions & Answers - Page 395

1,971.

Agriculture plays a dominant role in West Africa economics because

A.

The green Revolution in Nigeria is agriculture

B.

It supplies all the foodstuff consumed in West Africa

C.

There are large plantation of cocoa, groundnut and palm oil in West Africa

D.

It is the main source of revenue in Nigeria

E.

It employs more than 50% of the total labour force in West Africa

Correct answer is E

No explanation has been provided for this answer.

1,972.

Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age

A.

Money is regarded as a medium of exchange

B.

Measure for value

C.

Unit of account

D.

Store of value

E.

Standard for deferred payments

Correct answer is D

No explanation has been provided for this answer.

1,973.

The effect of emigration on a country's population, all other things remaining equal, is to

A.

Increase its size

B.

Cause overpopulation

C.

Increase its growth rate

D.

Reduce the proportion of children

E.

Reduce its size

Correct answer is E

No explanation has been provided for this answer.

1,974.

The monetary system that requires double coincidence of want is known as

A.

The gold standard

B.

Barter

C.

The commodity system

D.

The gold exchange standard

E.

The cheque system

Correct answer is B

No explanation has been provided for this answer.

1,975.

When a government owns enterprises, a number of advantage arise. Which of the following is NOT one of such advantages?

A.

More capital is provided

B.

Price policy may be the interest of consumers

C.

Government workers may be indifferents towards the public

D.

Infrasturcture are rapidly developed

E.

Income may be more evenly distributed

Correct answer is C

No explanation has been provided for this answer.