JAMB - Economics (2018)

• 1

  The privatization of public enterprises will lead to the efficient management of resources in the economy. This statement can best be described as_____________

  Trả lời

  (D)

  inductive reasoning
• 2

  The type of business finance that entitles the holder to a fixed rate of dividend is______________--

  Trả lời

  (C)

  preferred stock
• 3

  In the long run, all production factors are____________

  Trả lời

  (A)

  variable
• 4

  Commercial bank reserves at the Central Bank____________

  Trả lời

  (B)

  controlling credit and money supply
• 5

  If the standard deviation of a given data is 8.2, find its variance_______________

  Trả lời

  (C)

  67.2
• 6

  The ultimate objectives of economics is to_________?

  Trả lời

  (C)

  Make the best use of scarce resources
• 7

  The savings deposit in a commercial bank is called____________?

  Trả lời

  (C)

  capital
• 8

  A major determinant of the demand for a luxury good is____________?

  Trả lời

  (D)

  the income of consumers
• 9

  When a variable is associated with time period, it is_____________

  Trả lời

  (A)

  circular
• 10

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

  Trả lời

  (C)

  labour
• 11

  The minimum number of share holders for joint stock companies is_______________

  Trả lời

  (C)

  7
• 12

  If a demand curve that intersects a perfectly inelastic supply curve shifts rightward, then____________

  Trả lời

  (C)

  the equilibrium price and quantity will increase
• 13

  The basic economic problems of society include___________

  Trả lời

  (B)

  what to produce, how and for whom
• 14

  In an open economy, the GNP is measured as_____________?

  Trả lời

  (A)

  C + 1 + G(X-M)
• 15

  In a developing economy, productivity is measured by the____________

  Trả lời

  (C)

  output growth rate
• 16

  The need to construct a scale of preference is necessitated by____________

  Trả lời

  (A)

  scarcity and the need for choice
• 17

  The privatization exercise in Nigeria is a move towards a____________

  Trả lời

  (D)

  market economy
• 18

  The mean is the best measure of central tendency because it__________

  Trả lời

  (C)

  is a midpoint value in an array of data
• 19

  No of Men	1	2	3	4	5	6	7	8
  Total Product(unit)	200	440	540	600	640	660	660	640

  If the price per unit  is N2, what is the average revenue when 6 men are employed?

  Trả lời

  (A)

  N110
• 20

  

  The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

  Trả lời

  (B)

  a movement from unemployment to full employment
• 21

  When elasticity is zero, the demand curve is_____________

  Trả lời

  (C)

  perfectly inelastic
• 22

  Which of the following is not a direct tax?

  Trả lời

  (B)

  purchase tax
• 23

  A limited liability company is owned by________________

  Trả lời

  (D)

  share holders
• 24

  If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to____________

  Trả lời

  (C)

  1.25
• 25

  If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________

  Trả lời

  (A)

  a decrease in profit by 43%
• 26

  The money paid per hour for work done is_________

  Trả lời

  (D)

  wage rate
• 27

  

  From the graph above the consumer will attain equilibrium at point_______________

  Trả lời

  (B)

  K
• 28

  By utility we mean____________

  Trả lời

  (B)

  power of satisfying a want
• 29

  Concentrating industries in one place is advantageous because there are gains in terms of_____________

  Trả lời

  (B)

  economies of scale
• 30

  The effects on the demand for product A caused by a change in the price of product B is Called____________

  Trả lời

  (A)

  Joint demand
• 31

  An upward movement along the same supply curve result in_____________

  Trả lời

  (C)

  an increase in quantity supplied
• 32

  The coefficient of the price elasticity of supply is always_____________

  Trả lời

  (C)

  Positive
• 33

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

  Trả lời

  (B)

  Adam Smith
• 34

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

  Trả lời

  (B)

  N380m
• 35

  

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

  Trả lời

  (C)

  S
• 36

  An ad valorem tax is imposed on_____?

  Trả lời

  (C)

  The Value of a Commodity
• 37

  The labour force of a country is determined by the___________

  Trả lời

  (B)

  age structure of the population
• 38

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

  Trả lời

  (C)

  Privatization
• 39

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

  Trả lời

  (C)

  mixed economy
• 40

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

  Trả lời

  (B)

  Loan sought is long term
• 41

  The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________

  Trả lời

  (C)

  Devaluation
• 42

  X	8	10	12	16	18	20	24
  F	2	1	4	3	3	1	6

   

  From the table, Calculate the median___________

  Trả lời

  (D)

  16
• 43

  The expression of cost in terms of alternative forgone is referred to as ____?

  Trả lời

  (C)

  Opportunity cost
• 44

  The full meaning of NAPEP is?

  Trả lời

  (A)

  National Poverty Eradication Programme
• 45

  Taxes and government expenditures are instruments of____________

   

   

  Trả lời

  (D)

  Fiscal policy
• 46

  As a factor of production, the reward for land is?

  Trả lời

  (C)

  Rent
• 47

  

  The diagram below represents a production function. At which of the points does diminishing returns set in__________

  Trả lời

  (D)

  V
• 48

  The two major types of international trade are Bilateral trade and?

  Trả lời

  (B)

  Multilateral trade
• 49

  

  A country's budget allocation to various sectors of the economy is shown in the pie chart .

   

   If the budget of the country was $7,200.00, how much is allocated to education?

  Trả lời

  (A)

  $2,400.00
• 50

  In a capitalist economy, factors of production are owned and controlled by the _____?

   

  Trả lời

  (B)

  Business Men
• 51

  Efficiency of labour in a country is determined by the following except the____________

  Trả lời

  (C)

  Total population
• 52

  The study of Economics becomes necessary because of the______________

  Trả lời

  (B)

  Scarcity of resources
• 53

  The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________

  Trả lời

  (C)

  commodity terms of trade
• 54

  X	8	10	12	16	18	20	24
  F	2	1	4	3	3	1	6

   

  From the table, Calculate the mean?

  Trả lời

  (B)

  17.0
• 55

  The number of people who are qualified to work and who offer themselves for employment is called____________?

  Trả lời

  (B)

  Working population
• 56

  

  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?

  Trả lời

  (B)

  3:4
• 57

  Which of the following is an invisible item?

  Trả lời

  (D)

  Banking services
• 58

  The population density of a town made up of 50 square kilometer land area and 100 million people is________

  Trả lời

  (B)

  2 million people per square kilometer 
• 59

  The establishment of industries in rural areas will help to reduce____________-

  Trả lời

  (B)

  Rural-Urban migration
• 60

  The use of income and expenditure instruments or policies to control or regulate the economic activities of a country is known as?

  Trả lời

  (C)

  Fiscal Policy
• 61

  A group formed to enable members adopt a common policy in labour negotiation is known as?

  Trả lời

  (A)

  Employer’s association
• 62

  One of the major forms of migration that tends to create problem in all developing countries is that of___________

  Trả lời

  (A)

  Rural-urban migration
• 63

  When a union is composed of workers with the same skill , it is called____________

  Trả lời

  (C)

  A craft union
• 64

  X	2	3	4	5
  F	2	5	2	1

   

  From the table, the mean of the distribution is___________

  Trả lời

  (C)

  3.2
• 65

  The bank type responsible for the formulation of rules and regulations guiding the banking industry is known as?

  Trả lời

  (B)

  Central bank
• 66

  

  From table, how many people scores above 6?

  Trả lời

  (B)

  24
• 67

  The following are types of capital except:___________

  Trả lời

  (B)

  Saving capital
• 68

  Import duty and tariffs is an instrument used for international trade restriction and so is __________?

  Trả lời

  (A)

  Preferential duties
• 69

  

  Given the table, if the total budget of the country to be 100 million naira, what is the ratio of expenditure on manufacturing to agriculture?

  Trả lời

  (A)

  1:2
• 70

  The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________

  Trả lời

  (C)

  Export promotion
• 71

  Human wants are insatiable because wants are____________

  Trả lời

  (D)

  Unlimited while means are scarce.
• 72

  Mortgage banks give loans to investors on a long term basics to_____________

  Trả lời

  (D)

  build houses
• 73

  The form of capital that is required for the day-to-day running of production activities is called?

  Trả lời

  (C)

  Circulating capital
• 74

  Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?

  Trả lời

  (C)

  Public limited liability company
• 75

  Utility is the satisfaction derived from____________

  Trả lời

  (C)

  Consumption
• 76

  The main concern of economists is to________-

  Trả lời

  (D)

  Allocate scarce resources to satisfy human wants
• 77

  The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?

  Trả lời

  (D)

  Countries producing same or identical goods
• 78

  

  If the pass mark was 40, how many students passed the examination?

  Trả lời

  (C)

  160
• 79

  The Economic Commission for Africa was set up by the_________

  Trả lời

  (A)

  UNO
• 80

  The reward for capital is___________

  Trả lời

  (A)

  Interest
• 81

  The full meaning of NNPC is?

  Trả lời

  (B)

  Nigerian National Petroleum Corporation
• 82

  Occupational distribution of information is mainly influenced by___________

  Trả lời

  (A)

  economic factor
• 83

  The Economic Community of West African States (ECOWAS) has been slow in achieving its objective because of______________

  Trả lời

  (C)

  political instability
• 84

  The economic term used to refer to human wants, desires or needs is known as?

  Trả lời

  (A)

  Ends
• 85

  Consider the following statements:

    1. Climate and availability of water largely determines the pattern of the population distribution.

    2. Density of population helps in getting a better understanding of the spatial distribution of population in relation to land

    Which of the statement(s) given above is/are correct

  Trả lời

  (C)

  Both 1 and 2