2005 - JAMB Economics Past Questions and Answers - page 1
1
The regulatory authority of the capital market in Nigeria is the
A
Central Bank
B
Securities and Exchange Commission
C
Nigerian Deposit Insurance Corporation
D
Stock Exchange Market
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2
In the long run, the equilibrium point of a monoplistic firm is a point where the
A
marginal cost curve is tangential to the average fixed cost curve
B
demand curve is tangential to the average variable cost curve
C
supply cuvre is tangential to the marginal cost curve
D
demand curv is tangential to the average cost curve
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3
Given that Y= C+I, where C= 50+0.75 and I = N45m, what is the equilibrium level of income?
A
N380m
B
N20m
C
N180m
D
N200m
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4
Above full employment level, an expansionary monetary policy will lead to a
A
decrease in aggregate supply
B
fall in the inflation rate
C
rise in the inflation rate
D
fall in aggregate demand
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5
A major assumption in a perfectly competitive market is that
A
the number of buyers and sellers is small
B
individuals cannot influence prices
C
the quality of products remains the same
D
prices will always remain constant
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6
A discount house is a market where
A
various bills are exchanged
B
short-term and medium-term loans are obtained
C
shares are bought and sold
D
short-term loans are obtained
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7
Idle cash balances are held for
A
planned purchases
B
the purchase of bonds
C
the purchase of shares
D
unplanned purchases
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8
In a particular year, the sum of the value added in each sector of the economy was N4550 million
The amount represents the GNP measured by the
A
factor-price approach
B
output approach
C
income approach
D
expenditure approach
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9
Population density is described as the
A
average number of people per square kilometre
B
average number of people in a country
C
total population excluding migration
D
total population including net migration
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10
The short-run inelasticity of supply of agricultural produce causes
A
stability in prices
B
a steady rise in prices
C
a steady decline in prices
D
instability in prices
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