2016 JAMB Economics Past Questions*

A country embarks on a deficit financing in order to:

The money market provides business firms with the avenue to:

The optimum level of output for pure monopolist occurs where

According to the demographic transition theory, Africa can be said to be at stage

The ECOWAS is an example of

Given 32, 18, 24, 17, 16, 32, 28, 68, 71 and 15 the mode of the distribution is

The major determinant of income elasticity of demand is

Given 2, 4, 6, 8,4 and 6, the absolute mean deviation is

The precautionary demand for money is determined by

If the output of a firm experiencing economies of scale increases, the average cost would

The demand curve for a normal good is negatively sloped because

The average total cost when 20 units are produced is

The major role of multinational companies in the Nigerian petroleum industry is

Life insurance countries contribute to economic development by holding a part of their assets in

The wage rate is mostly related to

The choice of how to produce in a command economy is determined by

The coefficient of price elasticity of supply is

A change in supply of a commodity is due to a change in the

In a limited liability company, the greatest risk is borne by the

A market characterized by absence of close substitutes of goods and services is an example of

An inflation that co-exist with high rate of unemployment is

The growth and development of small and medium scale enterprises in Nigeria is hampered by

A major determinant of demand is

Which of the following can be used to measure the GNP

Find the median of the following set of data: 35, 10, 14, 38, 15, 18, 22, 30 and 28

From the table above, determine the average product of the 5^th unit of capital

The problem of what to produce is determined by

The main function of NNPC is to

A major feature of underdeveloped economy is

A tax on land will ultimately fall

The deregulation of the petroleum sector in Nigeria will bring about

One of the ways of correcting a deficit balance of payment is to

A nation’s net export is negative when her

Given Qd = 30 – 3P and Qs = 9P – 15, determine the equilibrium price

The problem of economic development in Nigeria is that of

The combination of two commodities that yield the same level of satisfaction is illustrated by

The demand for inferior goods is inversely related to change in

The minimum number of shareholders for partnership is

When diminishing returns set in, the total variable cost begins to

From the table above, the marginal product of the 7^th unit of capital is

Given 32, 18, 24, 17, 16, 32, 28, 68, 71 and 15. What is the range?

From the diagram above, the consumer is at equilibrium at point

If P = \( \frac{1}{4} \scriptsize (Q_s \; + \; 30) \)

what is the quantity supplied at ₦18?

When a consumer is at equilibrium, the MRS_xy is equal to the

One of the major factors militating against industrialization in Nigeria is

One of the factors that is considered in the location of a cement industry is nearness to

A problem facing the development of the Nigerian petroleum industry in Nigeria is

At full employment level, a contractionary monetary policy will lead to

A country where the available population is unable to guarantee efficient utilization of available resources is experiencing

One of the causes of instability in farmer’s income is