Jamb Economics 2002 Past Questions and Answers

Question 46:

• JAMB 2002

As a country gets more developed, the percentage of labour engaged in agriculture tends to?

A. Remain constant
B. Decrease steadily
C. Switch over to trading
D. Increase steadily

Question 47:

• JAMB 2002

In the diagram above, the marginal rate of substitution of X for Y, for a movement from S to T is

A. 13:3
B. 1:5
C. 18:4
D. 5:1

Question 48:

• JAMB 2002

In the pie chart below, the percentage for children is equivalent to

A. 288 ^o
B. 720 ^o
C. 90 ^o
D. 144 ^o

Question 49:

• JAMB 2002

In the diagram above, what is the excess demand at the price of N60

A. 200
B. 300
C. 600
D. 100

Question 50:

• JAMB 2002

In the diagrams, the opportunity cost of a unit of cotton in terms of cocoa is

A. 4 for Ghana; 2 for Nigeria
B. 20 for Ghana; 60 for Nigeria
C. 1/4 for Ghana; 1/2 for Nigeria
D. 5 for Ghana; 30 for Nigeria