Jamb Economics 2013 Past Questions and Answers

Question 6:

• JAMB 2013

Which of the following set of statistical tools is used for further economic analysis?

A. The median and standard deviation
B. The mean and mode
C. The mean and standard deviation
D. The mode and median

Question 7:

• JAMB 2013

An advantage of the range as a measure of dispersion is that it

A. Can be used to calculate open-ended distribution
B. Make use of all values of observations in a distribution
C. Takes all values into consideration
D. Is useful for further statistical calculation

Question 8:

• JAMB 2013

Find the median of the following set of data 35,10,14,38,15,18,22,30 and 28

A. 10
B. 38
C. 35
D. 22

Question 9:

• JAMB 2013

An increase in demand without a corresponding change in supply will lead to

A. A decrease in equilirium price and increase in equilibrium quantity
B. An increase in equilibrium price and quantity
C. A decrease in equilibrium price and quantity
D. An increase in equilibrium price and a decrease in equilibrium quantity

Question 10:

• JAMB 2013

An increase in the price of a commodity will result in

A. A decrease in the quantity demanded
B. An increase in demand
C. An increase in quantity demanded
D. A decrease in demand