Jamb Economics Past Questions and Answers

Question 2036:

• JAMB 2011

The average total cost when 20 units are produced is

A. N20.00
B. N23.00
C. N13.00
D. N15.00

Question 2037:

• JAMB 2011

When 20 units of output is produced, TC will be

A. N360
B. N300
C. N460
D. N400

Question 2038:

• JAMB 2011

The deflationary gap is defined by

A. X
B. K
C. X + K
D. X - K

Question 2039:

• JAMB 2011

What does X represent?

A. Recessionary gap
B. GNP gap
C. Inflationary gap
D. Deflationary gap

Question 2040:

• JAMB 2011

The median of an odd-numbered set of scores is the

A. Middle value in the set
B. Highest value in the set
C. Arithmetic means of the set
D. Most frequent occuring score