Jamb Economics 2022 Past Questions and Answers

Question 41:

• JAMB 2022

The International Bank for Reconstruction and Development(IBRD) performs the following functions except ____________

A. Granting long-term loans
B. Assisting with technical expertise
C. Reducing tariff among members
D. Developing human resource

Question 42:

• JAMB 2022

An electrical engineer who is teaching physics in a secondary school is said to be

A. Under-employed
B. Unemployed
C. Fully employed
D. Technologically unemployed

Question 43:

• JAMB 2022

One benefit a country can derive from the extraction of crude oil is increase in

A. Population
B. Employment
C. Money supply
D. Demand for imports

Question 44:

• JAMB 2022

Which of the following cannot be classified as a natural resource?

A. Iron rod
B. Wild life
C. Solar energy
D. Gold

Question 45:

• JAMB 2022

Marginal cost is?

A. The lowest cost of producing goods
B. The cost of production of the most efficient firm in an industry
C. The cost of production of the most inefficient firm in an industry
D. The cost of production of the last or extra unit of goods produced by a firm