Economics Past Questions

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49 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

49 questions
Question 1 of 20 49 total questions
Question 1
jamb 2010

The velocity of money is represented as

A\(\frac{\text{Money supply}}{\text{Real GDP}}\)
B\(\frac{\text{Real GDP}}{\text{Money supply}}\)
C\(\frac{\text{Nominal GDP}}{\text{Money supply}}\)
D\(\frac{\text{Real GDP}}{\text{Nominal GDP}}\)
View Explanation & Discuss
Question 2
jamb 2010

if \(\bar{x}\) = 6 and N = 6, determine the value of ∑fx

A36
B12
C1
D72
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Question 3
jamb 2010

The percentage of working population in 2002 is?

A50%
B25%
C8%
D80%
View Explanation & Discuss
Question 4
jamb 2010

What is the population growth rate in 2003?

A33.3%
B20.0%
C11.0%
D50%
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Question 5
jamb 2010

The amount of labour hired depends on the

Anumber of skilled labour available
Bskill of labour
Cmarginal productivity of labour
Dprice of the inputs
View Explanation & Discuss
Question 6
jamb 2010

The choice of the method of production in an economy is determined by the

Alevel of technical know-how
Brate of propulation growth
Cavailability of natural resources
Dlevel of income
View Explanation & Discuss
Question 7
jamb 2010

One of the objectives of ADB is to

Aprovide subsidies on imported goods to member countries
Bmobilize short-term loans for member countries
Cpromote economic and social development of member countries
Dprovide technical assistance to only poor member countries
View Explanation & Discuss
Question 8
jamb 2010

If Nigeria imports vehicles from Japan the transaction will appear as a

Adebit on Japan's balance of payments
Bcredit on Japan's balance of payments
Ccredit on Nigeria's balance of trade
Dcredit on Nigeria's balance of payment
View Explanation & Discuss
Question 9
jamb 2010

The primary motive for an individual engaging in production is to

Amake profit
Bsatisfy basic human wants
Credistribute wealth
Dput inputs into use
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Question 10
jamb 2010

One of the characteristics of free trade zone is

Acommon tariff against non-member countries
Bdifferent trade policies of non-member countries
Cfree factor mobility within the zone
Dharmonized trade among member countries
View Explanation & Discuss
Question 11
jamb 2010

The maximum number of shareholders for a limited liability company is

Atwenty
Bfive
Cseven
Dinfinite
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Question 12
jamb 2010
A disadvantage of Nigeria's dependence on imported petroleum products is the
Ainstability in the demand for the products
Bdominance of multinational firms
Cinstability in the supply of the product
Dpoor maintenance of the refineries
View Explanation & Discuss
Question 13
jamb 2010

In developing countries, governments influence the location of industries in order to

Aspread development
Bredistribute wealth
Cencourage enterpreneurs
Dencourage industries to earn high profits
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Question 14
jamb 2010

Localization of industries refers to the

Aspread of firms producing different products
Bsiting of industries near the market
Cconcentration of firms of an industry
Dsiting of firms producing different products
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Question 15
jamb 2010

The ultimate aim of agricultural policies in Nigeria is to achieve

Afood sufficiency
Bindustrialization
Cfull employment
Dindustrial capacity utilization
View Explanation & Discuss
Question 16
jamb 2010

Government can boost agricultural output in Nigeria primarily by

Aembarking on buffer stock programmes
Bplacing embargo on food importation
Cgranting subsidies on farm inputs
Dplacing farmers on monthly income
View Explanation & Discuss
Question 17
jamb 2010

The ultimate aim of agricultural policies in Nigeria is to achieve?

Afood sufficiency
Bindustrialization
Cfull employment
Dindustrial capacity utilization
View Explanation & Discuss
Question 18
jamb 2010

National development plans in Nigeria fail mainly because of

Aoverdependence on foreign aids
Binadequate funding of projects
Cpoor implementation strategies
Dshortage of skilled manpower
View Explanation & Discuss
Question 19
jamb 2010

A strategy for curbing unemployment is to

Aimplement government stabilization policy
Bincrease taxes and decrease government expenditure
Cincrease government expenditure and decrease taxes
Densure even distribution of job opportunities
View Explanation & Discuss
Question 20
jamb 2010

In Nigeria, the huge public debt is as a result of

Abalanced budgeting
Bdeficit budgeting
Csurplus budgeting
Dzero budgeting
View Explanation & Discuss
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