Jamb Economics 2017 Past Questions and Answers

Question 11:

• JAMB 2017

Cost - push inflation occurs when_______

A. Production cost is high
B. Government embarks on deficits financing
C. Factors decrease
D. There is too much in circulation

Question 12:

• JAMB 2017

The basic principle of cooperative societies is to ________

A. Maintain the integrity of their members
B. Protect the interest and pursue the welfare of members
C. Ensure better working conditions for members
D. Provide voluntary services to the members

Question 13:

• JAMB 2017

From the table above, the average product of the 3rd unit of labour is

A. 50
B. 70
C. 350
D. 150

Question 14:

• JAMB 2017

Which of the following institutions does not operate in the money market?

A. Central bank
B. Mortgage banks
C. Money deposit banks
D. Insurance companies

Question 15:

• JAMB 2017

Other products gotten from Petroleum include the following EXCEPT:

A. Rubber
B. Fuel
C. Paints
D. Insecticides