2013 - JAMB Economics Past Questions and Answers - page 5
41
One of the main achievements of the Economic Commission for Africa is
A
eliminating trade restrictions among states
B
encouraging transport and communication development
C
guaranteeing a steady flow of foreign investment into Africa
D
providing the machinery for collaboration on monetary issues
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42
The rate of interest change on loans depends largely on
A
the prevailing exchange rate
B
marginal efficiency of capital
C
the risk associated with the loan
D
the prevailing tax rate
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43
A valid explanation for real wage growth is
A
an increase in the rate of productivity
B
the rising cost of capital accumulation
C
a contraction of emploment in service industries
D
an increase in the quantity of labour
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44
If Mr. X lost his clerical job at a store and searched for a similar job for ten months before finding one this implies that Mr.X was
A
structurally unemployed
B
frictionally unemployed
C
seasonally unemployed
D
cyclically unemployed
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45
A
unitarily elastic
B
perfectly elastic
C
perfectly inelastic
D
fairly inelastic
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46
A
F
B
S
C
M
D
K
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47
A
marginal cost
B
total cost
C
variable cost
D
fixed cost
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48
A
BC
B
OB
C
OS
D
BS
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49
A
GHEF
B
GHJC
C
EFJC
D
GHOB
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