Jamb Economics Past Questions and Answers

Question 1996:

• JAMB 2011

An effective way of controlling inflation in a mixed economy is to

A. Increase productivity
B. Reduce income tax
C. Ration available output
D. Increase imports

Question 1997:

• JAMB 2011

One`of the limitations PPC assumption is that there is

A. No indication of technological development
B. No recognition of preferred goods for countries
C. Technical inefficiency
D. Abundant resources

Question 1998:

• JAMB 2011

A major disadvantage of the arithmetic means is that it is

A. Not useful for large data
B. Not suitable for further statistical analysis
C. Cumbersome to determine the actual value
D. Affected by extreme data

Question 1999:

• JAMB 2011

Demand patterns are determined by the market on the basis of

A. Scale of preference
B. Consumer sovereignty
C. Cosumer rationality
D. Price of the commodity

Question 2000:

• JAMB 2011

A consumer surplus measures the

A. Benefits derived from consuming a cheap commodity
B. Excess of total expenditure over total uility
C. Difference between marginal utility and marginal cost
D. Excess of marginal utility over price