Jamb Economics Past Questions and Answers

Question 2151:

• JAMB 2020

In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand

A. Elastic
B. Inelastic
C. Perfectly elastic
D. Unitary elastic

Question 2152:

• JAMB 2020

If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

A. 0.20
B. 0.80
C. 1.25
D. 2.00

Question 2153:

• JAMB 2020

The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?

A. Frictional
B. Cyclical
C. Residual
D. Hidden

Question 2154:

• JAMB 2020

Collectivism refers to the management of state enterprises in a?

A. Mixed economy
B. Co-operative organizations
C. Capitalist economic system
D. Socialist economy

Question 2155:

• JAMB 2020

Efficiency in production means?

A. Reducing the size of the work force
B. Producing a given output with the lowest cost of combination of factors of production
C. Adoption of capital intensive technology
D. Increasing the quantity of the fixed factors of production