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Economics Past Questions

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4,545 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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4,545 questions

Question 1 of 20 4,545 total questions

Question 631

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

View Explanation & Discuss

Question 632

jamb 2015

The curve labeled III illustrate a system of taxation

Aregressive tax

Bprogressive tax

Cvalue added tax

Dproportional tax

View Explanation & Discuss

Question 633

jamb 2015

The curve labeled II illustrates a system of taxation

Aproportional tax

Bregressive tax

Cvalue added

Dprogressive tax

View Explanation & Discuss

Question 634

jamb 2015

The line Y in the diagram represents

Atotal cost

Bvariable cost

Cfixed cost

Dmarginal cost

View Explanation & Discuss

Question 635

jamb 2015

Isocost and isoquant can be attributed to

ATheory of consumer behaviour

BTheory of cost

CTheory of production

DTheory of value

View Explanation & Discuss

Question 636

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 637

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 638

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

View Explanation & Discuss

Question 639

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

View Explanation & Discuss

Question 640

jamb 2015

All the following are types of specialization except

AManager Specialization

BProduct specialization

CSpecialization by sex

DGeographical specialization

View Explanation & Discuss

Question 641

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 642

jamb 2015

The information that rank a consumer preferences is given by

AScale of preference

BIndifference map

CDemand schedule

DSupply schedule

View Explanation & Discuss

Question 643

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

View Explanation & Discuss

Question 644

jamb 2015

The financial institution known as a building society is

Acommercial bank

Bcentral bank

Cmortgage bank

Ddevelopment bank

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Question 645

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

View Explanation & Discuss

Question 646

jamb 2015

Which of the following is not a type of unemployment

Afactory unemployment

Bstructural unemployment

Cmass unemployment

Dfrictional unemployment

View Explanation & Discuss

Question 647

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

View Explanation & Discuss

Question 648

jamb 2015

The frequent value that occurs most in a data is

Amedian

Bmean

Cmode

Drange

View Explanation & Discuss

Question 649

jamb 2015

The ordinalist approach of utility postulated that utility can be

ARank

BMeasurable

CRise

DFall

View Explanation & Discuss

Question 650

jamb 2015

The relationship between the cost of living and standard of living is

AA rise in cost of living gives a corresponding rise in standard of living

BA lower cost of living give a higher standard of living

CA lower cost of living give a lower standard of living

DNone of the above

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