Jamb Economics 2012 Past Questions and Answers

Question 21:

• JAMB 2012

A discriminatory monopoly is characterized by

A. A common elasticity in different markets
B. Different elasticities in different markets
C. A finite elasticity in all markets
D. Zero elasticity in all markets

Question 22:

• JAMB 2012

Net National Product is derived by deducting

A. Net exports from GNP
B. Subsidies from GDP
C. Taxes from GDP
D. Depreciation from GNP

Question 23:

• JAMB 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
The multiplier is

A. 8
B. 4
C. 3
D. 2

Question 24:

• JAMB 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
What is the change in income?

A. N0.5m
B. N1.5m
C. N2.6m
D. N8.0m

Question 25:

• JAMB 2012

If a basket of commodities cost N120 in the base year and N240 in the current year, calculate the price index

A. 100
B. 200
C. 240
D. 300