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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:
The interest charged on loans is determined by the __________?
  • A Exchange rate
  • B Fiscal policy
  • C Risk associated with the loan
  • D Rate of production in the country
View Answer & Explanation
Question 42:
A country that is over-populated will face the problem of
  • A Low birth rate
  • B Low per capita income
  • C High wage rate
  • D Full employment
View Answer & Explanation
Question 43:
If additional unit of a variable factor input causes a fall in the marginal product, this implies that
  • A Total product starts declining
  • B Average product has become zero
  • C Diminishing returns has set in
  • D Increasing returns is operating
View Answer & Explanation
Question 44:
Development plans fail in Nigeria mainly because of
  • A Corruption and political instability
  • B Over-dependence on foreign aid
  • C High cost of plan implementation
  • D Shortage of personnel
View Answer & Explanation
Question 45:
One of the major uses of national income statistics in Nigeria is to
  • A Equally distribute national income among citizens
  • B Determine the total population
  • C Compare population growth among nations
  • D Estimate per capita income
View Answer & Explanation