Jamb Economics 2023 Past Questions and Answers

Question 1:

• JAMB 2023

When a generalization is made based on observed facts, it is

A. Inductive reasoning
B. Normative reasoning
C. Theoretical reasoning
D. Deductive reasoning

Question 2:

• JAMB 2023

A persistence rise in the prices of inputs will lead to

A. Cost push inflation
B. Demand pull inflation
C. Hyperinflation
D. Stagflation

Question 3:

• JAMB 2023

From the graph below, Point "E" shows--------------


A. Product inefficiency
B. Product efficiency
C. Productive efficiency
D. Allocative efficiency

Question 4:

• JAMB 2023

Which of the following Age group belongs to active Labour force?

A. 15 - 25yrs
B. 0 - 17yrs
C. 65yrs and above
D. 18 - 64yrs

Question 5:

• JAMB 2023

Suppose the public expenditure as a percentage of GDP of four countries is shown in the table below

A	40%
B	50%
C	33%
D	36%

Which type of economy exists in these countries?

A. Traditional
B. Planned
C. Pure market
D. Mixed