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Economics Past Questions and Answers

Jamb Economics Questions

Question 16:

Agriculture accounts for about 60% of the

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A Commodity market in West Africa
B Arable land in West Africa
C Active labour force in West Africa
D Service sector activities in West Africa

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Question 17:

Which of the following shows why individual demand curve for a good usually slopes downward from left to right?

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A More of commodities are offered for sale at a lower than higher prices
B Marginal utility falls as consumption increases
C The higher the price, the higher the quantity offered for sale
D Prices are usually falling when demand is low

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Question 18:

Multiplier can be described as

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A The ratio of change in an endogenous variable to the change spending
B The ratio of variables that multiplies autonomous spending plus tax
C The ratio of change in output to a change in autonomous spending
D The ratio of variables that multiplies autonomous spending

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Question 19:

Which one of the following measures the natural growth rate of population?

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A Natural increase - Birth rate + Net migration
B Birth rate - Death rate
C Birth rate/Death rate
D Birth + Net migration = Death

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Question 20:

In a two by two model of international trade, it is assumed that

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A Both countries could gain from trade at the same time, but term of trade is inconsequential for the distribution of the gains
B Both countries could gain from trade at the same time, but the volume of the gains depends on terms of trade
C Neither country could ever gain from trade since term of trade is depends on the distribution of the gains from trade
D Both countries could gain from trade at the same time, and the volume of the gains does not depend on terms of trade

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