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Economics Past Questions and Answers

Jamb Economics Questions

Question 46:

GNP is not a good measure of social welfare because there are unrecorded?

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A Indirect taxes
B Social costs
C Government subsidies
D Transfer payments

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Question 47:

The loans from the World Bank to developing countries are mainly to support?

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A The establishment of more universities
B Capital-intensive technology
C Infrastructural investments
D Their low level of consumption

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Question 48:

The major reason why nations engage in international trade is that?

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A It allows free movement of factors of production
B It makes possible the use of capital-intensive method of production
C Nations are substantially different in their endowments of economic resources
D It affords the trading nations the opportunity to earn high profit

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Question 49:

A country with over-valued currency will?

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A Expect balance of payments surplus
B Have increased demand forthe exports
C Increase her foreign reserve
D Decreased her foreign reserve

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Question 50:

The diagram shows the total utility curve. At the point M, marginal utility

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A Increases
B Is unity
C Diminishes
D Is zero

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