Jamb Economics Past Questions
Question 2281
Retailers in an economy perform the function of
- A. production
- B. exchange
- C. distribution
- D. horading
- E. investment
Question 2282
In an inflationary period which of the following statements is NOT true?
- A. Wages rise simultaneously with prices
- B. The purchasing power of money diminishes
- C. More money runs after a limited quantity of goods
- D. Money supply increases
- E. Aggregate real demand exceeds aggregate real supply
Question 2283
The meaning of ‘wage-price spiral’ is?
- A. demand pull and cost push inflation pulling each other in different director
- B. demand pull and cost push inflation intensifying each other
- C. both of them bringing about a reduction in the price level
- D. that demand pull and cost push inflation increases employment
- E. that wages and prices are rising at a proportional rate
Question 2284
Palm oil industry is located in Bendel State because the State?
- A. imports raw material for palm oil Industry
- B. is a palm tree growing area
- C. soil is unsuitable for other crops
- D. government does engage land for other crops
- E. land is suitable for oil
Question 2285
Division of labour has many advantages . Not withstanding, it is greatly limited by?
- A. monotony of work
- B. decline of craftmanship
- C. risk of unemployment
- D. extent of market demand
- E. boredom
