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Economics Past Questions

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70 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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Past Questions

70 questions

Question 1 of 20 70 total questions

Question 11

jamb 2015

The study of broad economic aggregates is

AMacro economics

Bdeductive method of economic analysis

Cmicro economics

DInductive method of economics analysis

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Question 12

jamb 2015

The income of an individual increases from N150 to N250 and his consumption rate increases from N100 to N150. Calculate the Marginal Propensity to Consume

B0.4

D0.5

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Question 13

jamb 2015

The term of trade can be expressed as

A(Price index of export ÷ Price index of export)× 100

B(price index of import ÷ price index of export) × 100

C(Price index of export ÷ Price index of import)× 100

D(Price index of export + Price index of import)× 100

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Question 14

jamb 2015

What would be likely to increase inflation in any economy?

AIncrease in demand

BReduce public spending

CControl excessive import

DIncrease in direct tax

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Question 15

jamb 2015

The curve labeled III illustrate a system of taxation

Aregressive tax

Bprogressive tax

Cvalue added tax

Dproportional tax

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Question 16

jamb 2015

The curve labeled II illustrates a system of taxation

Aproportional tax

Bregressive tax

Cvalue added

Dprogressive tax

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Question 17

jamb 2015

The line Y in the diagram represents

Atotal cost

Bvariable cost

Cfixed cost

Dmarginal cost

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Question 18

jamb 2015

Isocost and isoquant can be attributed to

ATheory of consumer behaviour

BTheory of cost

CTheory of production

DTheory of value

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Question 19

jamb 2015

All the following are properties of an indifference curves except

Ait can intersect

Bit slopes downward from left to right like that of a normal demand curve

Cas it shift rightward it indicate higher and higher level of satisfaction

Dit does not intersect

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Question 20

jamb 2015

Find the range in the following data 9, 15, 6, 20, 24, 18, 12, 8, 20, 10, 5.

A24

C19

D12

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Question 21

jamb 2015

Which of the following will shift the demand curve for Bournvita to the right

Aa rise in price of Bournvita

Ban increase in income

Ca tax on cocoa producer

Da fall in price of Bournvita

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Question 22

jamb 2015

A market will be at equilibrium when

Ademand and supply are equal

Bdemand is greater than supply

Cprice is higher

Dsupply is greater than demand

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Question 23

jamb 2015

All the following are types of specialization except

AManager Specialization

BProduct specialization

CSpecialization by sex

DGeographical specialization

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Question 24

jamb 2015

The ownership of a public limited liability company is made up of

Atwo to twenty persons

Bminimum of two and maximum of fifty

Cminimum of seven and no maximum number

Downer owned by the government

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Question 25

jamb 2015

The information that rank a consumer preferences is given by

AScale of preference

BIndifference map

CDemand schedule

DSupply schedule

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Question 26

jamb 2015

A line in commodity space which shows the constraints imposed by his budget, his money income and the price of goods purchased is

Asupply curve

Bliquidity preference

CBudget line

Ddemand curve

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Question 27

jamb 2015

The financial institution known as a building society is

Acommercial bank

Bcentral bank

Cmortgage bank

Ddevelopment bank

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Question 28

jamb 2015

\(\begin{array}{c|c}
\text{Units of variable factor} & \text{Total
Product} \\
\hline
1 & 25 \\
\hline
2 & 31 \\
\hline
3 & 40 \\
\hline
4 & 48 \\
\hline
5 & 55 \\
\end{array}\)

The marginal product at the fifth variable factor is

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Question 29

jamb 2015

Which of the following is not a type of unemployment

Afactory unemployment

Bstructural unemployment

Cmass unemployment

Dfrictional unemployment

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Question 30

jamb 2015

Mr. Patrick’s income is N900 while that of Mr. Shodawe is N1,300. if Mr. Patrick and Shodawe pay N90 and N130 as taxes, the tax system is

ADirect

BProgressive

CRegressive

DProportional

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