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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

The age distribution of a country's population determines the?

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A Ratio of the dependent to the working group
B Total age of all working class adults
C Male-female ratio
D Percentage of married women

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Question 27:

Firms continue to employ workers until the wage rate equals the?

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A Average product of labour
B Marginal revenue product of labour
C Total product of labour
D Sum of marginal revenue and average revenue of labour

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Question 28:

A major effect of a long distribution chain is?

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A High retail prices
B Scarcity of commodities
C Low retail prices
D Low producer earnings

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Question 29:

The major function of the wholesaler to his customers is?

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A Breaking of bulk
B Offering personal services
C Stocking a variety of goods
D Providing transport facilities

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Question 30:

Which of the following is used for measuring national income?

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A Output, income and wages
B Import, expenditure and output
C Income, output and expenditure
D Export, Import and output

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