Jamb Economics 2015 Past Questions and Answers

Question 36:

• JAMB 2015

Mr. Patrick’s income is N900 while that of Mr. Shodawe is N1,300. if Mr. Patrick and Shodawe pay N90 and N130 as taxes, the tax system is

A. Direct
B. Progressive
C. Regressive
D. Proportional

Question 37:

• JAMB 2015

Which of the following is not a type of unemployment

A. Factory unemployment
B. Structural unemployment
C. Mass unemployment
D. Frictional unemployment

Question 38:

• JAMB 2015

\(\begin{array}{c|c}
\text{Units of variable factor} & \text{Total
Product} \\
\hline
1 & 25 \\
\hline
2 & 31 \\
\hline
3 & 40 \\
\hline
4 & 48 \\
\hline
5 & 55 \\
\end{array}\)


The marginal product at the fifth variable factor is

A. 7
B. 6
C. 5
D. 9

Question 39:

• JAMB 2015

The financial institution known as a building society is

A. Commercial bank
B. Central bank
C. Mortgage bank
D. Development bank

Question 40:

• JAMB 2015

A line in commodity space which shows the constraints imposed by his budget, his money income and the price of goods purchased is

A. Supply curve
B. Liquidity preference
C. Budget line
D. Demand curve