2018 - JAMB Economics Past Questions and Answers - page 6
Efficiency of labour in a country is determined by the following except the____________
The study of Economics becomes necessary because of the______________
The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________
| X | 8 | 10 | 12 | 16 | 18 | 20 | 24 |
| F | 2 | 1 | 4 | 3 | 3 | 1 | 6 |
From the table, Calculate the mean?
Mean= ∑fx/∑f
=(16+10+48+48+54+20+144)/(2+1+4+3+3+1+6)
=340/20
=17.0
The number of people who are qualified to work and who offer themselves for employment is called____________?
Working population also known as labour force refers to the total number of persons available to supply the labour for the production of economic goods and services.
A country's budget allocation to various sectors of the economy is shown in the pie chart .
What is the ratio of expenditure of health to Agriculture?
Total budget = $7,200
Expenditure on Health =x/$7200 × 3600 = 600
3600x = 600 × $7200
x = 600×$7200/3600
x = $1,200
Budget allocated to Health is $1,200
Expenditure on Agriculture = x /$7200 × 3600 = 800
3600x = 800 × $7200
x = 800 × $7200/3600
x=$1,600
Budget allocated to Agriculture is $1,600
Ratio of expenditure on Health to Agriculture;
Ratio=1200:1600
=3:4
Which of the following is an invisible item?
Invisible export is in economics refers to any export that does not have a tangible physical presence (e.g. expertise, insurance underwriting). It consists of services rendered to other countries. Such services include transport, banking, insurance and other consulting service.
The population density of a town made up of 50 square kilometer land area and 100 million people is________
Total population = 100,000,000
Total land area = 50 sq km
Population density=(Total population) / (Land area)
=100,000000/50
=2,000,000
=2 million persons per sq km
The establishment of industries in rural areas will help to reduce____________-
Rural-urban migration is the movement of people from rural areas such as villages to urban centers. The establishment of industries, projects and businesses that will absorb the rural working population and reverse labor movement will go a long way in reducing rural-urban drift.
The use of income and expenditure instruments or policies to control or regulate the economic activities of a country is known as?
Fiscal policy is the use of income and expenditure instruments or policies to control or regulate the economic activities of a country. It is a plain action by government pertaining to the raising of revenue through taxation and other means and the pattern of expenditure to be applied.