JAMB Economics Past Questions & Answers - Page 403

2,011.

When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

A.

Tariffs

B.

Quotas

C.

Exchange control

D.

Devaluation

E.

Revaluation

Correct answer is B

No explanation has been provided for this answer.

2,012.

If the Central Bank intends to increase the money supply through open market operations then it will

A.

Sell securities in the open market

B.

Buy securities in the open market

C.

Issues more currency note

D.

Withdraw money supply from the market

E.

Print more demand deposit

Correct answer is B

No explanation has been provided for this answer.

2,013.

Demand for money for speculative purposes means?

A.

Buying goods and services whose prices have risen

B.

Keeping money for unforseen expenditure

C.

Buying financial assets because of possible gains

D.

Buying real estate

E.

Keeping money for a rainy day

Correct answer is C

No explanation has been provided for this answer.

2,014.

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

A.

Elastic in both markets

B.

Unilateral elastic in both market

C.

Inelastic in both markets

D.

Elastic in one market and inelastic in the other

E.

Unilateral elastic in none of the markets

Correct answer is D

No explanation has been provided for this answer.

2,015.

Public enterprises are supported on the grounds that they are undertaken for

A.

Increasing profit of the private sector

B.

Reducing the burden of the private sector

C.

Improving the welfare of the people

D.

Earning profit for the people

E.

Earning profit for the government

Correct answer is C

No explanation has been provided for this answer.