Jamb Economics 1993 Past Questions and Answers

Question 46:

• JAMB 1993

In the diagram, the marginal propensity to consume (MPC) is equal to

A. \(\frac{RP}{TP}\)
B. \(\frac{TP}{RP}\)
C. \(\frac{RT}{RP}\)
D. \(\frac{RT}{TP}\)

Question 47:

• JAMB 1993

In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?

A. P_d
B. P₂
C. P₃
D. P₄

Question 48:

• JAMB 1993

From the diagram above, a shift in the demand curve from D_oD_o to D₁D₁ implies

A. A rise in the demand for the commodity
B. A fluctuation in the demand for the commodity
C. A fall in the demand for the commodity
D. An equilibrrium in the demand for the commodity

Question 49:

• JAMB 1993

Using the table calculate the net income

A. N58m
B. N54m
C. N50m
D. N46m

Question 50:

• JAMB 1993

What type of unemployment is revealed by the dotted lines on the graph?

A. Frictional unemployment
B. Cyclical unemployment
C. Circular unemployment
D. Underemployment