Economics Past Questions and Answers

Question 11 :

• JAMB 2019

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

A. 145
B. 15
C. 90
D. 6

Question 12 :

• JAMB 2019

A method of analysis that draws conclusions from data rather than general Principles already known is________

A. Deductive reasoning
B. Inductive reasoning
C. Normative reasoning
D. Positive reasoning

Question 13 :

• JAMB 2019

The money market equilibrium is defined as_________

A. When the demand and supply of money are equal
B. When demand is greater than supply of money
C. When demand is less than supply of money
D. When supply is greater than demand for money

Question 14 :

• JAMB 2019

An economic condition in which much reduced economic activity co-exists with inflation is referred to as__________

A. Stagflation
B. Inflationary spiral
C. Slump inflation
D. Inflationary gap

Question 15 :

• JAMB 2019

An Instrument used by the central bank to fix commercial and merchant banks total credit to domestic economy is________

A. Monetary policy
B. Fiscal policy
C. Credit ceiling
D. Open market operation