Jamb Economics 2019 Past Questions and Answers

Question 106:

• JAMB 2019

The minimum number of share holders for joint stock companies is_______________

A. 4
B. 2
C. 7
D. 3

Question 107:

• JAMB 2019

If a demand curve that intersects a perfectly inelastic supply curve shift is rightward, then____________

A. Only the quantity will increase
B. The prices will remain constant
C. The equilibrium price and quantity will increase
D. Only the price will increase

Question 108:

• JAMB 2019

The basic economic problems of society include___________

A. Scarcity, for whom to produce and where
B. What to produce, how and for whom
C. Scarcity, when to produce and how
D. How to produce and sell

Question 109:

• JAMB 2019

In an open economy, the GNP is measured as_____________?

A. C + 1 + G(X-M)
B. C + 1 + G
C. C + 1 + G + X
D. C + 1 + G + M

Question 110:

• JAMB 2019

In a developing economy, productivity is measured by the____________

A. Output - labour ratio
B. Capital - output ratio
C. Output growth rate
D. Output per capital