2018 - JAMB Economics Past Questions and Answers - page 1
1
The privatization of public enterprises will lead to efficient management of resources in the economy. This statement can best be described as_____________
A
deductive reasoning
B
positive reasoning
C
normative reasoning
D
inductive reasoning
2
The type of business finance that entitles the holder to a fixed rate of dividend is______________--
A
bank load
B
debenture
C
preferred stock
D
semi-fixed
3
In the long run, all production factors are____________
A
variable
B
fixed
C
semi-variable
D
semi-fixed
4
Commercial bank reserves at the Central Bank____________
A
advancing trade, prospects
B
controlling credit and money supply
C
reducing bank frauds
D
discouraging banking operations
5
If the standard deviation of a given data is 8.2, find its variance_______________
A
82.0
B
91.8
C
67.2
D
4.1
6
The ultimate objectives of economics is to_________?
A
decide under what circumstances that government should intervene in the economy
B
Organize production at the lowest cost
C
Make the best use of scarce resources
D
make efforts to understands how the economy works
7
The savings deposit in a commercial bank is called____________?
A
near money
B
call money
C
capital
D
fund
8
A major determinant of the demand for a luxury good is____________?
A
the price of other goods
B
the price of the good
C
tastes and fashion
D
the income of consumers
9
When a variable is associated with time period, it is_____________
A
circular
B
a flow
C
static
D
a stock
10
The factor of production that has the highest degree of mobility is__________?
A
entrepreneurship
B
land
C
labour
D
capital
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