Jamb Economics 2023 Past Questions and Answers

Question 16:

• JAMB 2023

Agriculture accounts for about 60% of the

A. Commodity market in West Africa
B. Arable land in West Africa
C. Active labour force in West Africa
D. Service sector activities in West Africa

Question 17:

• JAMB 2023

Which of the following shows why individual demand curve for a good usually slopes downward from left to right?

A. More of commodities are offered for sale at a lower than higher prices
B. Marginal utility falls as consumption increases
C. The higher the price, the higher the quantity offered for sale
D. Prices are usually falling when demand is low

Question 18:

• JAMB 2023

Multiplier can be described as

A. The ratio of change in an endogenous variable to the change spending
B. The ratio of variables that multiplies autonomous spending plus tax
C. The ratio of change in output to a change in autonomous spending
D. The ratio of variables that multiplies autonomous spending

Question 19:

• JAMB 2023

Which one of the following measures the natural growth rate of population?

A. Natural increase - Birth rate + Net migration
B. Birth rate - Death rate
C. Birth rate/Death rate
D. Birth + Net migration = Death

Question 20:

• JAMB 2023

In a two by two model of international trade, it is assumed that

A. Both countries could gain from trade at the same time, but term of trade is inconsequential for the distribution of the gains
B. Both countries could gain from trade at the same time, but the volume of the gains depends on terms of trade
C. Neither country could ever gain from trade since term of trade is depends on the distribution of the gains from trade
D. Both countries could gain from trade at the same time, and the volume of the gains does not depend on terms of trade