Jamb Economics Past Questions and Answers

Question 1736:

• JAMB 2005

The factor responsible for the current inflationary pressures in Nigeria is the

A. Exchange rate depreciation
B. Increase in exports
C. Low per capital income
D. Budget surplus

Question 1737:

• JAMB 2005

If government increases in its expenditure on public works, the desired effect is

A. A reduction in the use of capital equipment
B. An increase in the level of emploment
C. An increase in the level of inflation
D. An increase in the use of capital equipment

Question 1738:

• JAMB 2005

An institution that regulates trade relations among members is the

A. ADB
B. OPEC
C. EU
D. IMF

Question 1739:

• JAMB 2005

What is the median quantity?

A. 5kg
B. 6kg
C. 3kg
D. 4kg

Question 1740:

• JAMB 2005

Applying the law of comparative costs, how many units of groundnuts will Nigeria produce?

A. 7000 units
B. 16000 units
C. 9000 units
D. 8000 units