Jamb Economics 2003 Past Questions and Answers

Question 1:

• JAMB 2003

When two variables are positively related, the graph of the relationship?

A. Is a downward-sloping curve
B. Has a negative intercept
C. Is a straight line
D. Is an upward-sloping curve

Question 2:

• JAMB 2003

When two variables are positively related, the graph of the relationship?

A. Is a downward-sloping curve
B. Has a negative intercept
C. Is a straight line
D. Is an upward-sloping curve

Question 3:

• JAMB 2003

For an inferior good, a decreased in real income will lead to?

A. A lower equilibrium price
B. A change in quantity demanded
C. An outward shift of the demand curve
D. An inward shift of the demand curve

Question 4:

• JAMB 2003

In economic analysis, a statement is said to be normative if it?

A. Relates to value judgement
B. Is incorrect
C. Can be tested scientifically
D. Is contradictory

Question 5:

• JAMB 2003

Utility is the satisfaction derived from?

A. Demand
B. Production
C. Distribution
D. Consumption