2015 - JAMB Economics Past Questions and Answers - page 5
41
Find the range in the following data 9, 15, 6, 20, 24, 18, 12, 8, 20, 10, 5.
A
24
B
5
C
19
D
12
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42
All the following are properties of an indifference curves except
A
it can intersect
B
it slopes downward from left to right like that of a normal demand curve
C
as it shift rightward it indicate higher and higher level of satisfaction
D
it does not intersect
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43
Isocost and isoquant can be attributed to
A
Theory of consumer behaviour
B
Theory of cost
C
Theory of production
D
Theory of value
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44
A
total cost
B
variable cost
C
fixed cost
D
marginal cost
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45
A
proportional tax
B
regressive tax
C
value added
D
progressive tax
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46
A
regressive tax
B
progressive tax
C
value added tax
D
proportional tax
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47
What would be likely to increase inflation in any economy?
A
Increase in demand
B
Reduce public spending
C
Control excessive import
D
Increase in direct tax
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48
The term of trade can be expressed as
A
(Price index of export ÷ Price index of export)× 100
B
(price index of import ÷ price index of export) × 100
C
(Price index of export ÷ Price index of import)× 100
D
(Price index of export ÷ Price index of import)× 100
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49
The income of an individual increases from N150 to N250 and his consumption rate increases from N100 to N150. Calculate the Marginal Propensity to Consume
A
2
B
0.4
C
1
D
0.5
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50
The study of broad economic aggregates is
A
Macro economics
B
deductive method of economic analysis
C
micro economics
D
Inductive method of economics analysis
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