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
42
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
43
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
44
A
o
B
2
C
4
D
10
45
A
3
B
16
C
20
D
22
46
\(\begin{array}{c|c}
\text{Age group(years)} & \text{Distribution(%)} \ \hline
\text{Above 60} & 30 \\
\hline
15 - 60 & 45 \\
\hline
0 - 14 & 25 \\
\end{array}\)
The estimated dependency ratio of the population distribution shown here is
A
11:9
B
9:11
C
7:3
D
3:7
47
\(\begin{array}{c|c}
\text{Population(Million)} & \text{Food Production(Milion tonnes)} \\
50 & 220 \\
70 & 210 \\
90 & 225 \\
100 & 275 \\
\end{array}\)
In the data above, what is the optimum population in million?
A
50
B
70
C
90
D
100
48
\(\begin{array}{c|c}
\text{Quantity of singlets} & \text{Short run total costs(N)} \\
0 & 1,000 \\
10 & 1,200 \\
20 & 1,400 \\
30 & 1,600 \\
40 & 1,800 \\
\end{array}\)
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.
A
N1000
B
N400
C
N70
D
N20
49
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
50
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
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