2018 - JAMB Economics Past Questions and Answers - page 4

31

An upward movement along the same supply curve result in_____________

A
a decrease in price
B
an increase
C
an increase in quantity supplied
D
a decrease In quantity supplied
correct option: c
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32

The coefficient of the price elasticity of supply is always_____________

A
Constant
B
Zero
C
Positive
D
Negative
correct option: c
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33

In the history of economics the concept of division of labour is usually associated With______________-

A
Karl Marx
B
Adam Smith
C
David Ricardo
D
J.M Keynes
correct option: b
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34

Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?

A
N20m
B
N380m
C
N200m
D
N180m
correct option: b
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35

From the diagram shown, the optional point of production is_____________?

A
R
B
T
C
S
D
U
correct option: c
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36

An ad valorem tax is imposed on_____?

A
Exports
B
Imports
C
The Value of a Commodity
D
Special Commodities
correct option: b
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37

The labour force of a country is determined by the___________

A
geographical distribution of the population
B
age structure of the population
C
number of people available for work
D
sex distribution of the population
correct option: b
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38

The transfer of public share holding in corporations to private enterprise is___________?

A
Incorporation
B
Concession
C
Privatization
D
Commercialization
correct option: c
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39

An economy in which both the public and private sectors contribute to economic growth is a__________?

A
socialist economy
B
feudal economy
C
mixed economy
D
capitalist economy
correct option: c
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40

A  capital market differs from the money market in that in the former ________?

A
The percentage of interest charged is more
B
Loan sought is long term
C
Loan repayment is guaranteed
D
Loan sought is short-term
correct option: d
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