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Economics Past Questions and Answers

Jamb Economics Questions

Question 46:

In the diagram, the marginal propensity to consume (MPC) is equal to

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A \(\frac{RP}{TP}\)
B \(\frac{TP}{RP}\)
C \(\frac{RT}{RP}\)
D \(\frac{RT}{TP}\)

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Question 47:

In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?

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A P_d
B P₂
C P₃
D P₄

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Question 48:

From the diagram above, a shift in the demand curve from D_oD_o to D₁D₁ implies

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A A rise in the demand for the commodity
B A fluctuation in the demand for the commodity
C A fall in the demand for the commodity
D An equilibrrium in the demand for the commodity

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Question 49:

Using the table calculate the net income

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A N58m
B N54m
C N50m
D N46m

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Question 50:

What type of unemployment is revealed by the dotted lines on the graph?

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A Frictional unemployment
B Cyclical unemployment
C Circular unemployment
D Underemployment

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