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1998 - JAMB Economics Past Questions and Answers - page 5

41

The Economic Commission for Africa was set up by the?

A
UNO
B
ECOWAS
C
OAU
D
IMF
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42
In the diagram above, full employment is indicated by
A
L
B
M
C
N
D
P
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43
From the table above, the total utility for the individual who consumes 3 units of commodity X is
A
50 units
B
150 units
C
230 units
D
250 units
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44
Population Statistics of a Country. The dependency ratio between 1960 and 1990 is
A
increased by 5%
B
increased by 2%
C
decrease by 2%
D
decrease by 5%
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45
Population Statistics of a Country. In 1990, the difference between the dependent population and the active population ratio is
A
22%
B
20%
C
16%
D
4%
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46
The average total cost when output is 200 units in the table above is
A
N1.00
B
N2.0
C
N1.40
D
N2.40
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47
In the diagram above, the price P2 in price control situation, is referred to as
A
minimum price
B
markup price
C
maximum price
D
mark-down price
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48
The shaded triangle in the diagram above is known as
A
excess supply
B
consumer surplus
C
excess consumption
D
producer surplus
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49
In the diagram above, DoDo is the original demand curve, SoSo is the original supply curve, D1D1 is the new demand curve. What is the new equilibrium quantity?
A
Q1
B
Q2
C
Q3
D
Q4
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50
In the diagram above, profit is maximized at 1 he output level
A
ON
B
OK
C
OL
D
OF
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