Jamb Economics 2023 Past Questions and Answers

Question 66:

• JAMB 2023

The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged despite changes in the price is

A. Perfectly elastic
B. Infinitely elastic
C. Inelastic
D. Perfectly inelastic

Question 67:

• JAMB 2023

An increase in total production (real GDP) causes the demand for money to ______and the interest rate to _________

A. Increase; decrease
B. Decrease; decrease
C. Increase; increase
D. Decrease; increase

Question 68:

• JAMB 2023

Part-time workers who desire full-time employment are:

A. Underemployed and contribute to the unemployment statistic
B. Underemployed but do not contribute to the unemployment statistic
C. Not part of the labour force and do not contribute to the unemployment statistic
D. Cyclical unemployment

Question 69:

• JAMB 2023

Which of the following is the resultant effect of a fall in the profit margin of producers in an economy?

A. Unemployment will fall
B. Unemployment will remain constant
C. Unemployment will increase
D. Unemployment will fluctuate

Question 70:

• JAMB 2023

Indicator of underdevelopment is

A. High life expectancy
B. Low birth rate
C. Low population growth rate
D. Low per capita income