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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.

2,540 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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Past Questions

2,540 questions

Question 1 of 20 2,540 total questions

Question 751

jamb 1999

De valuation helps in checking adverse balance of payments if the?

Ademand for imports is elastic

Bdemand for imports is inelastic

Csupply of exports is elastic

Ddemand for exports is inelastic

View Explanation & Discuss

Question 752

jamb 1999

A free trade area emerges when?

Atraders from one part of the country can move freely to other parts

Bcustoms regulation are harmonized among countries

Ca group of countries decide to remove restrictions on imports from one another

Dthe UNCTAD is in force

View Explanation & Discuss

Question 753

jamb 1999

The price of a good will not be affected by the imposition of a sales tax on it if the?

Asupply is inelastic

Bdemand is inelastic

Csupply is perfectly elastic

Ddemand is perfectly elastic

View Explanation & Discuss

Question 754

jamb 1999

Economic development may be defined as economic growth?

Ain a given country

Bover a long period

Cand improved health facilities

Dand improved distribution of wealth

View Explanation & Discuss

Question 755

jamb 1999

Fiscal policy involves changes in?

Aopen market operations

Brevenue and expenditure of government

Cmoney supply to the economy

Dimports and exports

View Explanation & Discuss

Question 756

jamb 1999

One of the functions money is that, it helps?

Adetect frauds in matters of exchange

Bpostponed payments without loss of count

Cstore information about the valuation of an item

Drecord information about the valuation of an item

View Explanation & Discuss

Question 757

jamb 1999

If high unemployment goes hand in hand with rising prices, the situation created is?

Ahyperinflation

Bstagflation

Cmoderate inflation

Dgalloping inflation

View Explanation & Discuss

Question 758

jamb 1999

Bills of exchange originates from a?

Acentral bank

Bcommercial bank

Ccommunity bank

Ddevelopment bank

View Explanation & Discuss

Question 759

jamb 1999

People hold money for?

Acharity

Bsafe keeping

Cprofit making

Dspeculative purposes

View Explanation & Discuss

Question 760

jamb 1999

The relationship between the value of money and the price level is?

Adirect

Bunpredictable

Cdiverse

Dinverse

View Explanation & Discuss

Question 761

jamb 1999

Inflation which is caused mainly increases in the prices of factors of production is described as?

Acost-push inflation

Bdemand-pull inflation

Ccrawling inflation

Dspiral inflation

View Explanation & Discuss

Question 762

jamb 1999

Non-bank financial intermediaries do not?

Aprovide credit facilities

Baccept deposits

Caccept demand deposits

Dsell shares

View Explanation & Discuss

Question 763

jamb 1999

One of the major problems of product distribution in most developing countries is?

Alack of storage facilities

Blarge number of middlemen

Cinadequate manpower

Dinadequate means of transportation

View Explanation & Discuss

Question 764

jamb 1999

The value of the multiplier depends on?

AMPC and level of income

Blevel of personal income

Clevel of personal savings

Dgovernment policy and MPC

View Explanation & Discuss

Question 765

jamb 1999

National income at factor cost means national income at?

Acurrent prices

Bnominal prices

Clast year prices

Dbase year prices

View Explanation & Discuss

Question 766

jamb 1999

When a worker earns more than the wage just sufficient to keep him in his job, the excess income is called?

Aan opportunity cost

Ban economic rent

Ctransfer earnings

Dsurplus value

View Explanation & Discuss

Question 767

jamb 1999

Optimum population is defined as the level of population at which?

Aper capital output is maximized

Bpopulation is neither increasing nor decreasing

Ctotal national income is maximized

Dmarginal efficiency of population is maximized

View Explanation & Discuss

Question 768

jamb 1999

An entrepreneur will continue to employ labour up to a point where?

Acosts are minimized

Bmaximized efficiency is attained

Cwages are equal to marginal product of labour

Dmarginal product of labour is equal to zero

View Explanation & Discuss

Question 769

jamb 1999

Import substitution industrialization refers to?

Athe concentration of industries for even regional development

Bsetting up of industries for even development

Ca situation in which local industries are set up to produce goods formerly imported

Dthe banning of imports which are subtitutes for domestically produce goods

View Explanation & Discuss

Question 770

jamb 1999

Concentrating industries in one place is advantageous because there are gains in terms of?

Aexternal economies

Binternal economies

Ceconomies of scale

Dcost economies

View Explanation & Discuss

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