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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 781

jamb 2012

A change in the pump price of petrol in Nigeria has a direct effect on the

Aprices of consumer goods

Bprices of essential goods

Ccost of raw materials

Dcost of transportation

View Explanation & Discuss

Question 782

jamb 2012

An important contribution of small-scale industries to the Nigerian economy is in the area of

Atechnological development

Bforegin exchange earnings

Craw materials processing

Dlabour employment

View Explanation & Discuss

Question 783

jamb 2012

A sugar industry is best located near the source of

Alabour

Braw materials

Cpower

Dcapital

View Explanation & Discuss

Question 784

jamb 2012

A strategy for improving agriculture in Nigeria will involve

Acontrolling the prices of agricultural products

Bensuring self-sufficiency in food production

Creducing agricultural exports

Destablishing commondity boards

View Explanation & Discuss

Question 785

jamb 2012

An emerging agricultural export crop in Nigeria is

Acassava

Bcotton

Ccocoa

Dsoya beans

View Explanation & Discuss

Question 786

jamb 2012

The primary reason for desiring economic growth is to

Acontrol inflation

Breduce poverty

Credistribute income

Draise standard of living

View Explanation & Discuss

Question 787

jamb 2012

Rapid economic development in Nigeria is realizable by

Acontinuous dependence on oil

Bconcentrating more on agriculture

Cdeveloping the tourism industry

Ddiversifying the economy

View Explanation & Discuss

Question 788

jamb 2012

A huge national debt is an indication that the gold reserves of a nation has

Aappreciated

Bdecreased

Cdepreciated

Dstagnated

View Explanation & Discuss

Question 789

jamb 2012

An ad valorem tax is imposed on

Aspecial commodities

Bexports

Cimports

Dthe value of a commodity

View Explanation & Discuss

Question 790

jamb 2012

The major function of money market is to

Aprovide funds for long-term financing

Bprovide funds short-term financing

Cstabilize the value of the local currency

Dstabilize domestic prices

View Explanation & Discuss

Question 791

jamb 2012

The minimum amount which banks are required to deposit with the central bank is determined by the

Aliquidity ratio

Bcash reserve ratio

Cminimum lending rate

Daggregate credit ceiling

View Explanation & Discuss

Question 792

jamb 2012

The money that commands a higher market value than its face value is called

Apaper money

Bstandard money

Ccommodity money

Dfiat money

View Explanation & Discuss

Question 793

jamb 2012

If a basket of commodities cost N120 in the base year and N240 in the current year, calculate the price index

A100

B200

C240

D300

View Explanation & Discuss

Question 794

jamb 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
What is the change in income?

AN0.5m

BN1.5m

CN2.6m

DN8.0m

View Explanation & Discuss

Question 795

jamb 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
The multiplier is

View Explanation & Discuss

Question 796

jamb 2012

Net National Product is derived by deducting

Anet exports from GNP

Bsubsidies from GDP

Ctaxes from GDP

Ddepreciation from GNP

View Explanation & Discuss

Question 797

jamb 2012

A discriminatory monopoly is characterized by

Aa common elasticity in different markets

Bdifferent elasticities in different markets

Ca finite elasticity in all markets

Dzero elasticity in all markets

View Explanation & Discuss

Question 798

jamb 2012

Patents and copyrights enable monopolists to

Adetermine the quality of their products

Bdetermine the scale of their products

Crestrict information flow to new firms

Drestrict entry of new firms

View Explanation & Discuss

Question 799

jamb 2012

If a firm doubles all inputs in the long run and the total output is less than doubled, this results in

Adiminishing returns

Bconstant returns to scale

Cincreasing returns to scale

Ddecreasing returns to scale

View Explanation & Discuss

Question 800

jamb 2012

The long-run average cost curve touches to the short-run average cost curves at the

Aminimum points of all short run average cost curves

Bdeclining points of all short-run average cost curves

Cminimum point of only one of the short-run cost curves

Drising points of all short-run average cost curves

View Explanation & Discuss

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