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
32
The coefficient of the price elasticity of supply is always_____________
A
Constant
B
Zero
C
Positive
D
Negative
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
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
35
From the diagram shown, the optional point of production is_____________?
A
R
B
T
C
S
D
U
36
An ad valorem tax is imposed on_____?
A
Exports
B
Imports
C
The Value of a Commodity
D
Special Commodities
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
38
The transfer of public share holding in corporations to private enterprise is___________?
A
Incorporation
B
Concession
C
Privatization
D
Commercialization
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
40
AÂ Â 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
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