2018 - JAMB Economics Past Questions & 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
CORRECT OPTION: a
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
CORRECT OPTION: c
3

In the long run, all production factors are____________

A
variable
B
fixed
C
semi-variable
D
semi-fixed
CORRECT OPTION: a
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
CORRECT OPTION: a
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
CORRECT OPTION: c
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
CORRECT OPTION: c
7

The savings deposit in a commercial bank is called____________?

A
near money
B
call money
C
capital
D
fund
CORRECT OPTION: c
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
CORRECT OPTION: a
9

When a variable is associated with time period, it is_____________

A
circular
B
a flow
C
static
D
a stock
CORRECT OPTION: a
10

The factor of production that has the highest degree of mobility is__________?

A
entrepreneurship
B
land
C
labour
D
capital
CORRECT OPTION: c
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