2019 - JAMB Economics Past Questions and Answers - page 3
21
The shape of the production possibility frontier is determined by the_________
A
law of returns to scale
B
law of diminishing returns
C
factors of productions
D
technology
22
As indifference curve shows equal level of satisfaction at all points, An isoquant shows equal level of_________
A
Input
B
Commodities
C
Output
D
Factors
23
Which of the following is not a cause of unemployment_______
A
poor education
B
lack of skills
C
good government planning
D
corruption
24
The demand for labour is a________
A
Derived demand
B
Joint demand
C
Complementary demand
D
Composite demand
25
The use of government income and expenditure instrument to regulate the economy is termed______
A
monetary policy
B
physical policy
C
fiscal policy
D
public finance
26
A form of tax that is midly progressive and regressive is_______
A
Proportional tax
B
Progressive tax
C
Regressive tax
D
Digressive tax
27
Industrialization is the process of___________
A
concentrating a firm in a place
B
transforming as economy based on extractive to manufacturing
C
transferring a government industry to individual
D
transforming finished goods into semi-finished goods
28
One of these is not a way by which government encourage industrialization?
A
Protection of Infant industries
B
Establishment of Nigeria Enterprises Promotion Decree
C
Low Productivity and inefficiency
D
Establishment of higher institutions
29
The sector which contribute highly to the economy is___________
A
Primary sector
B
Secondary sector
C
Tertiary sector
D
Education sector
30
A permit that allows an importer to bring a certain quantity of foreign goods into a country is_________
A
Import monopoly
B
Import licence
C
Import quota
D
Embargo
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