2016 - JAMB Economics Past Questions and Answers - page 2
11
A company's expenditure on raw materials is termed as_______?
A
Prime cost
B
Explicit cost
C
Average cost
D
Implicit cost
correct option: b
Users' Answers & Comments12
Development plans fail in Nigeria mainly because of
A
Corruption and political instability
B
Over-dependence on foreign aid
C
High cost of plan implementation
D
Shortage of personnel
correct option: a
Users' Answers & Comments13
One of the major uses of national income statistics in Nigeria is to
A
Equally distribute national income among citizens
B
Determine the total population
C
Compare population growth among nations
D
Estimate per capita income
correct option: d
Users' Answers & Comments14
The major characteristics of an undeveloped nation is
A
Over-dependence on foreign products
B
Dominance of the industrial sector
C
High per capita income
D
Efficient and sensitive financial sector
correct option: a
Users' Answers & Comments15
Which is of the following is NOT among the financial institutions in Nigeria?
A
Federal Mortgage Bank
B
Microfinance Banks
C
Insurance Banks
D
Federal Ministry of Finance
correct option: d
Users' Answers & Comments16
Given 0.25, 1.25, 1.80, 1.110, 10.20, 10.15 and 1.55.
Determine the range?
Determine the range?
A
0.25
B
10.00
C
1.55
D
9.95
correct option: d
Users' Answers & Comments17
One of the problems facing the Nigerian oil and gas industry is____________________?
A
Over-capacity utilization
B
The discovery of alternative oil sources
C
Shortage of indigenous manpower
D
The excess supply of petroleum products
correct option: c
Users' Answers & Comments18
The demand curve faced by a monopolist is_____?
A
Positively sloped
B
Vertical
C
Horizontal
D
Negatively Sloped
correct option: d
Users' Answers & Comments19
The interest charged on loans is determined by the __________?
A
Exchange rate
B
Fiscal policy
C
Risk associated with the loan
D
Rate of production in the country
correct option: c
Users' Answers & Comments20
A country that is over-populated will face the problem of
A
Low birth rate
B
Low per capita income
C
High wage rate
D
Full employment
correct option: b
Users' Answers & Comments