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.
In Nigeria, the bank that can correctly be described as a unit bank is?
Athe Central Bank
Bpeople's bank
Cmortgage bank
Dcommunity bank
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Question 692
jamb2002
National Income estimates can be used to?
Adifferentiate between the rich and the poor in a country
Bprepare a country's annual budget
Cprotect the level of a country's economic develompent
Dcompare a country's growth rate with that of another over a period of time
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Question 693
jamb2002
The stock exchange is a market for the buying and selling of?
Amonetary instruments
Bnew shares
Cexisting shares
Dtreasury bills
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Question 694
jamb2002
The solution to the problem of double coincidence of wants requires a buyer and seller whose demands are precisely?
Acompetitve
Bcomposite
Csupplementary
Dcomplementary
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Question 695
jamb2002
In a centrally planned economy, the economic problem of deciding what to produce is dependent on?
Aaverage profit
Bstate command
Caverage cost
Drelative prices
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Question 696
jamb2002
A scientific approach in economic analysis entails?
Aa deductive method only
Bboth inductive and normative methods
Ca normative method only
Dboth inductive and deductive methods
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Question 697
jamb2002
One of the reason for an exceptional demand curve is the?
Aexpectation of a future change in price
Bavailability of credit facilities
Cchange in the price of the commodity
Davailability of substitutes
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Question 698
jamb2002
A shift in supply curve indicates that a different quantity will be supplied at each possible price because?
Aconsumers are willing to pay higher prices
Bsupply is facing competition
Cother factors than price have changed
Dprice has changed
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Question 699
jamb2002
A student has N30.00 with which to buy a ruler costing N18.00 and an exercise book costing N25.00. If he buys the exercise book, his opportunity cost is?
Athe ruler
Bthe exercise book
CN25.00
D18.00
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Question 700
jamb2002
The demand for factors of production is an example of?
Ajoint demand
Bcompetitive demand
Cderived demand
Dcomposite demand
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Question 701
jamb2002
The elasticity of supply of perishable goods is?
Aunitary
Binelastic
Czero
Delastic
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Question 702
jamb2001
The table above shows a demand schedule for eggs. What is the equilibrium price?
AN 100
BN110
CN60
DN80
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Question 703
jamb2001
The diagram shows the total utility curve. At the point M, marginal utility
Aincreases
Bis unity
Cdiminishes
Dis zero
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Question 704
jamb2001
A country with over-valued currency will?
Aexpect balance of payments surplus
Bhave increased demand forthe exports
Cincrease her foreign reserve
Ddecreased her foreign reserve
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Question 705
jamb2001
The major reason why nations engage in international trade is that?
Ait allows free movement of factors of production
Bit makes possible the use of capital-intensive method of production
Cnations are substantially different in their endowments of economic resources
Dit affords the trading nations the opportunity to earn high profit
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Question 706
jamb2001
The loans from the World Bank to developing countries are mainly to support?
Athe establishment of more universities
Bcapital-intensive technology
Cinfrastructural investments
Dtheir low level of consumption
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Question 707
jamb2001
GNP is not a good measure of social welfare because there are unrecorded?
Aindirect taxes
Bsocial costs
Cgovernment subsidies
Dtransfer payments
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Question 708
jamb2001
If the labour force in a given community is 2,000,000, in the wage employment 200,000 and the unemployed are 80,000, what is the unemployment rate in the community?
A0.4%
B40.0%
C10.0%
D4.0%
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Question 709
jamb2001
In order to accelerate economic development, a country must?
