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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:
When a generalization is made based on observed facts, it is
  • A Inductive reasoning
  • B Normative reasoning
  • C Theoretical reasoning
  • D Deductive reasoning
View Answer & Explanation
Question 2:
A persistence rise in the prices of inputs will lead to
  • A Cost push inflation
  • B Demand pull inflation
  • C Hyperinflation
  • D Stagflation
View Answer & Explanation
Question 3:
From the graph below, Point "E" shows--------------
  • A Product inefficiency
  • B Product efficiency
  • C Productive efficiency
  • D Allocative efficiency
View Answer & Explanation
Question 4:
Which of the following Age group belongs to active Labour force?
  • A 15 - 25yrs
  • B 0 - 17yrs
  • C 65yrs and above
  • D 18 - 64yrs
View Answer & Explanation
Question 5:
Suppose the public expenditure as a percentage of GDP of four countries is shown in the table below

A 40%
B 50%
C 33%
D 36%





Which type of economy exists in these countries?
  • A Traditional
  • B Planned
  • C Pure market
  • D Mixed
View Answer & Explanation