2014 - JAMB Economics Past Questions and Answers - page 5
41
The major determinant of the total volume of output in an economy is the
A
level of total expenditure
B
composition of consumer spending
C
number of farmers
D
size of the labour force
correct option: a
Users' Answers & Comments42
The labour force of a country is determined by the
A
age structure of the population
B
geographical distribution of the population
C
sex distribution of the population
D
number of people available for work
correct option: a
Users' Answers & Comments43
A
15%
B
10%
C
54%
D
24%
correct option: a
Users' Answers & Comments44
A
312m
B
39m
C
318m
D
317m
correct option: c
Users' Answers & Comments45
A
consumers income and change in technology
B
price of the commodity and weather conditions
C
consumers income and population size
D
consumers taste and change in price
correct option: d
Users' Answers & Comments46
A
J
B
K
C
L
D
M
correct option: b
Users' Answers & Comments47
A
0.50
B
0.80
C
2.00
D
1.25
correct option: b
Users' Answers & Comments48
A
27 and 1
B
68 and 12
C
28 and 5
D
12 and 19
correct option: a
Users' Answers & Comments49
Given that Qd = 40-2P and Qs = 6P+24. Calculate the equilibrium price.
A
34
B
32
C
36
D
16
correct option: c
Users' Answers & Comments