Economics Past Questions

Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

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

93 questions
Question 1 of 20 93 total questions
Question 31
jamb 2011

In modern economies, the Malthusian theory of population is ineffective because of

Abirth control measures
Btechnical progress
Cgovernment policies
Dnatural disasters
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Question 32
jamb 2011

A condition in which official and autonomous exchange rate coexist is

Adual exchange rate system
Bmanaged floating rate system
Cmarket determined exchange rate system
Dmultiple exchange rate system
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Question 33
jamb 2011

The transfer to public shareholding corporations to private enterprises is

Aconcession
Bincorporation
Ccommercialization
Dprivatization
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Question 34
jamb 2011

The record of a country's transactions in international trade is her

Acapital account
Bbalance of payments
Ccurrent account
Dbalance of trade
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Question 35
jamb 2011

Industrial development in Nigeria can be encouraged through

Asigning WTO treaty
Bgranting subsidies
Cthe provision of efficient infrastructure
Ddirect government participation
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Question 36
jamb 2011

Investing heavily in the agricultural sector will lead to

Asufficient food production
Ba vibrant commodity market
Ccapital inflow
Dstable export prices
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Question 37
jamb 2011

The main function of NNPC is to

Aoversee the development of the oil sector
Bdevelop the oil producing area
Cfix the price of products
Densure regular supply of products
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Question 38
jamb 2011
Agricultural production in Nigeria is constrained by
Aineffective use of stabilization measures
Binadequate demand
Cpoor implementation of policies
Dbalance of payments deficits
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Question 39
jamb 2011

Upstream oil activities involve the

Amanagement of pollution
Bmarketing of refined products
Cexploration of crude oil
Drefining of crude oil
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Question 40
jamb 2011
The import-substitution strategy of industrialization is to encourage
Adomestic production
Blarge-scale production
Cimportation
Dexportation
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Question 41
jamb 2011
A country embarks on deficit financing in order to
Aincrease revenue
Breduce aggregate demand
Ccurb inflation
Dstimulate investment
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Question 42
jamb 2011

An indicator of growth in an economy over a period of time is the

AGDP gap
BGDP at factor cost
CGDP at market price
DGDP deflator
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Question 43
jamb 2011

A country achieves economic development when there is

Aan increase in military expenditure
Ban increase in capacity utilization
Ca sustained increase in per capital income
Dan even distribution of goods and services
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Question 44
jamb 2011

During the era of barter, money was generally in the form of

Anotes
Bprecious metals
Ccoins
Dcommodities
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Question 45
jamb 2011

If aggregate demand is lower than total output in an economy national income will

Abe constant
Bbe at equilibrium
Cincrease
Dfall
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Question 46
jamb 2011

In national income accounts, an item counted as part of government spending is

Asalaries and wages
Bpension
Cscholarship
Dsocial welfare
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Question 47
jamb 2011

An increase in the circulation of money without a corresponding increase in output will lead to

Aa rise in income levels
Bstagflation
Cinflation
Ddeflation
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Question 48
jamb 2011

Bank consolidation policy in Nigeria is a measure to increase

Athe capital base of banks
Bemployment opportunities in banks
Cthe number of shareholders
Dthe number of branches
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Question 49
jamb 2011

One of the characteristics of oligopoly is the availability of

Afew sellers
Bfew buyers
Cmany sellers
Da single seller
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Question 50
jamb 2011

The law of variable proportions is applicable only

Ain the long-run period
Bto large-scale enterprises
Cto small-scale enterprises
Din the short-run period
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