Jamb Economics 2011 Past Questions and Answers

Question 16:

• JAMB 2011

One of the characteristics of oligopoly is the availability of

A. Few sellers
B. Few buyers
C. Many sellers
D. A single seller

Question 17:

• JAMB 2011

Bank consolidation policy in Nigeria is a measure to increase

A. The capital base of banks
B. Employment opportunities in banks
C. The number of shareholders
D. The number of branches

Question 18:

• JAMB 2011

An increase in the circulation of money without a corresponding increase in output will lead to

A. A rise in income levels
B. Stagflation
C. Inflation
D. Deflation

Question 19:

• JAMB 2011

In national income accounts, an item counted as part of government spending is

A. Salaries and wages
B. Pension
C. Scholarship
D. Social welfare

Question 20:

• JAMB 2011

If aggregate demand is lower than total output in an economy national income will

A. Be constant
B. Be at equilibrium
C. Increase
D. Fall