2016 - JAMB Economics Past Questions and Answers - page 1
1
If the marginal propensity to save is 0.8, calculate the multiplier?
A
1.25
B
5.00
C
1.30
D
2.25
correct option: b
Users' Answers & Comments2
Which of the following is a set of measures of dispersion?
A
Mean and median
B
Mean and standard deviation
C
Range and variance
D
Mode and mean
correct option: c
Users' Answers & Comments3
The slow pace of industrial growth in Nigeria can be attributed to__________?
A
lack of raw materials
B
lack of market for produce
C
inadequate skilled labour
D
over-dependence on the oil sector
correct option: d
Users' Answers & Comments4
Consumers allocate their resources based on the ______?
A
Law of diminishing marginal utility
B
Value in use and value in exchange principle
C
Law of returns to scale
D
Diamond and water paradox
correct option: b
Users' Answers & Comments5
A country's terms of trade can be improved by________?
A
Revaluation of currency
B
Collective bargaining
C
Reducing demand for imported goods
D
Imposing lower export duties
correct option: c
Users' Answers & Comments6
A government budget proposing to spend more than its expected revenue in a year will create_______?
A
Opportunity for combating inflation
B
Depression in the economy
C
Shortage in money supply
D
Opportunity for full employment
correct option: d
Users' Answers & Comments7
Population growth is determined by_______?
A
Dependency ratio
B
Labour force
C
Per capita
D
Net migration
correct option: d
Users' Answers & Comments8
Which of the following can cause oil glut in the International market?
A
Excess demand over supply
B
Under- capacity utilization
C
Excess supply over demand
D
Economic boom
correct option: c
Users' Answers & Comments9
\(\begin{array}{c|c}
Price (N) & 20 & 16 \\ \hline
\text{Quantity demanded} & 100 & 58
\end{array}\)
From the table above, the elasticity of supply is_____?
Price (N) & 20 & 16 \\ \hline
\text{Quantity demanded} & 100 & 58
\end{array}\)
From the table above, the elasticity of supply is_____?
A
Inelastic supply
B
Perfectly elastic
C
Elastic supply
D
Unitary elastic
correct option: c
Users' Answers & Comments10
Localization of industry is encouraged because of
A
Low interest charges on loans
B
High standard of living
C
Low foreign exchange rate
D
Improvements in infrastructure
correct option: d
Users' Answers & Comments