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1993 - JAMB Economics Past Questions and Answers - page 5

41

The international Bank for Reconstruction and Development is important to developing countries because it?

A
gives loans to member countries for legal proceedings
B
offers grants and aid for defence
C
offers loans to member countries for socio-economics activities
D
offers grants and aid to finance luxury projects
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42
Given an output of 3 units, the average is
A
N16.00
B
N18.00
C
20.00
D
24.00
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43
Determine the marginal revenue if the total revenue is 80.00
A
6.00
B
12.00
C
14.00
D
18.00
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44
In the diagram, the marginal propensity to consume (MPC) is equal to
A
RPTP
B
TPRP
C
RTRP
D
RTTP
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45
In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?
A
Pd
B
P2
C
P3
D
P4
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46
From the diagram above, a shift in the demand curve from DoDo to D1D1 implies
A
a rise in the demand for the commodity
B
a fluctuation in the demand for the commodity
C
a fall in the demand for the commodity
D
an equilibrrium in the demand for the commodity
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47
Using the table calculate the net income
A
N58m
B
N54m
C
N50m
D
N46m
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48
What type of unemployment is revealed by the dotted lines on the graph?
A
frictional unemployment
B
Cyclical unemployment
C
Circular unemployment
D
Underemployment
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49
The above diagram showing the maximum possible combination of commodities X and Y produced in Nigeria is called the
A
Production indicator
B
Maximum production curve
C
Production possibility curve
D
Total output curve
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50
How many units of good X is produced for 8 units of commodity Y?
A
80
B
40
C
20
D
O
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