Jamb Economics 1998 Past Questions and Answers

Question 46:

• JAMB 1998

Population Statistics of a Country. In 1990, the difference between the dependent population and the active population ratio is

A. 22%
B. 20%
C. 16%
D. 4%

Question 47:

• JAMB 1998

What is the average total cost when output is 200 units in the table above is

A. N1.00
B. N2.0
C. N1.20
D. N2.40

Question 48:

• JAMB 1998

In the diagram above, the price P₂ in price control situation, is referred to as

A. Minimum price
B. Markup price
C. Maximum price
D. Mark-down price

Question 49:

• JAMB 1998

The shaded triangle in the diagram above is known as

A. Excess supply
B. Consumer surplus
C. Excess consumption
D. Producer surplus

Question 50:

• JAMB 1998

In the diagram above, D_oD_o is the original demand curve, S_oS_o is the original supply curve, D₁D₁ is the new demand curve. What is the new equilibrium quantity?

A. Q₁
B. Q₂
C. Q₃
D. Q₄