Jamb Economics 2014 Past Questions and Answers

Question 31:

• JAMB 2014

A monopolist can boost up his revenue by

A. Adjusting both price and output upward
B. Reducing total output to match price
C. Increasing price
D. Reducing price

Question 32:

• JAMB 2014

If MPC = 2/3 and investment is N100 million, the level of national income is

A. N100 million
B. N10 million
C. N303 million
D. N300 million

Question 33:

• JAMB 2014

The precautionary demand for money is determined by

A. The rate of interest
B. The level of savings
C. The level of income
D. General price level

Question 34:

• JAMB 2014

An inflation that co-exists with high rate of unemployment is

A. Hyperinflation
B. Stagflation
C. Demand-pull inflation
D. Cost-push inflation

Question 35:

• JAMB 2014

Division of labour requires that, the tasks in a production line be performed

A. By specialists
B. In stages
C. By all workers
D. By unskilled labourers