1992 - JAMB Economics Past Questions and Answers - page 5
41
One of the gains by member states of the Economic Community of West Africa?
A
monocultural dependency
B
trade creation
C
trade inversion
D
economic independency
correct option: c
Users' Answers & Comments42
A
Q1 while 1 = AC and II = MC
B
Q1, while l = MC and ll = AC
C
Q2, while l = MC and ll AC
D
Q3, while l = AC and ll = MC
correct option: c
Users' Answers & Comments43
A
fall because there is a surplus
B
remain constant because it is the equilibrium price
C
rise because there is a shortage
D
double
correct option: a
Users' Answers & Comments44
A
o
B
2
C
4
D
10
correct option: b
Users' Answers & Comments45
A
3
B
16
C
20
D
22
correct option: a
Users' Answers & Comments46
\(\begin{array}{c|c}
\text{Age group(years)} & \text{Distribution(%)} \ \hline
\text{Above 60} & 30 \\ \hline
15 - 60 & 45 \\ \hline
0 - 14 & 25 \\ \end{array}\)
The estimated dependency ratio of the population distribution shown here is
\text{Age group(years)} & \text{Distribution(%)} \ \hline
\text{Above 60} & 30 \\ \hline
15 - 60 & 45 \\ \hline
0 - 14 & 25 \\ \end{array}\)
The estimated dependency ratio of the population distribution shown here is
A
11:9
B
9:11
C
7:3
D
3:7
correct option: a
Users' Answers & Comments47
\(\begin{array}{c|c}
\text{Population(Million)} & \text{Food Production(Milion tonnes)} \\ 50 & 220 \\ 70 & 210 \\ 90 & 225 \\ 100 & 275 \\ \end{array}\)
In the data above, what is the optimum population in million?
\text{Population(Million)} & \text{Food Production(Milion tonnes)} \\ 50 & 220 \\ 70 & 210 \\ 90 & 225 \\ 100 & 275 \\ \end{array}\)
In the data above, what is the optimum population in million?
A
50
B
70
C
90
D
100
correct option: a
Users' Answers & Comments48
\(\begin{array}{c|c}
\text{Quantity of singlets} & \text{Short run total costs(N)} \\ 0 & 1,000 \\ 10 & 1,200 \\ 20 & 1,400 \\ 30 & 1,600 \\ 40 & 1,800 \\ \end{array}\)
The short run total costs for different levels of output for a firm producing singlets are shown above. Calculate the variable cost per unit at an output of 20.
\text{Quantity of singlets} & \text{Short run total costs(N)} \\ 0 & 1,000 \\ 10 & 1,200 \\ 20 & 1,400 \\ 30 & 1,600 \\ 40 & 1,800 \\ \end{array}\)
The short run total costs for different levels of output for a firm producing singlets are shown above. Calculate the variable cost per unit at an output of 20.
A
N1000
B
N400
C
N70
D
N20
correct option: d
Users' Answers & Comments49
The type of business organizations mostly used for producing public goods in Nigeria is
A
Sole proprietorships
B
Limited liability companies
C
Co-operative societies
D
Statutory corporations
correct option: d
Users' Answers & Comments50
The terms of trade of a country is defined as
A
\(\frac{\text{Index of import prices}}{\text{Index of export prices}}\) x 100
B
\(\frac{\text{Index of exportable}}{\text{Index of importable}}\) x 100
C
\(\frac{\text{Index of visible imports}}{\text{Index of visible exports}}\) x 100
D
\(\frac{\text{Index of export prices}}{\text{Index of import prices}}\) x 100
correct option: b
Terms of trade (TOT) refers to the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices.
Users' Answers & Comments