Jamb Economics 2016 Past Questions and Answers

Question 41:

• JAMB 2016

The interest charged on loans is determined by the __________?

A. Exchange rate
B. Fiscal policy
C. Risk associated with the loan
D. Rate of production in the country

Question 42:

• JAMB 2016

A country that is over-populated will face the problem of

A. Low birth rate
B. Low per capita income
C. High wage rate
D. Full employment

Question 43:

• JAMB 2016

If additional unit of a variable factor input causes a fall in the marginal product, this implies that

A. Total product starts declining
B. Average product has become zero
C. Diminishing returns has set in
D. Increasing returns is operating

Question 44:

• JAMB 2016

Development plans fail in Nigeria mainly because of

A. Corruption and political instability
B. Over-dependence on foreign aid
C. High cost of plan implementation
D. Shortage of personnel

Question 45:

• JAMB 2016

One of the major uses of national income statistics in Nigeria is to

A. Equally distribute national income among citizens
B. Determine the total population
C. Compare population growth among nations
D. Estimate per capita income