Jamb Economics 2002 Past Questions and Answers

Question 21:

• JAMB 2002

If the growth rate of available resources continuously outpaces that of the population, a country will eventually experience?

A. Maximum population
B. Underpopulation
C. Overpopulation
D. Optimum population

Question 22:

• JAMB 2002

The equilibrium wage in an economy is determined by the?

A. Public service
B. Worker's union
C. Rate of inflation
D. Supply and demand for labour

Question 23:

• JAMB 2002

The Malthusian theory of population growth is often said to be?

A. Ambiguous
B. Oversimplified
C. Pessimistic
D. Optimistic

Question 24:

• JAMB 2002

Improved labour efficiency can be measured by?

A. An increase in output-input ratio
B. An decrease in output-input ratio
C. The constancy of input-output ratio
D. An increase in input-output ratio

Question 25:

• JAMB 2002

As a firm increases its output, the average fixed cost?

A. Tends to rise continuously
B. Remains constant
C. Rises and then falls
D. Tends to decreased continuously