Jamb Economics Past Questions and Answers

Question 2366:

• JAMB 2023

If commodities X and Y are substitute, their cross elasticity of demand will be

A. One
B. Positive
C. Negative
D. Zero

Question 2367:

• JAMB 2023

The term 'investment' in macro means

A. Profit
B. Total amount of money invested in bonds and stocks
C. The total amount of capital goods in the country
D. The production of goods for immediate consumption

Question 2368:

• JAMB 2023

The following are economic agents in any economy EXCEPT

A. Central Bank
B. House hold
C. Firm
D. Government

Question 2369:

• JAMB 2023

One major criticism of foreign aid to developing countries is that it

A. Gives too much power and control to world bank
B. Encourages growth in government bureaucracy
C. Is capital using rather than capital saving
D. Provides incentives for capital flight

Question 2370:

• JAMB 2023

Public corporation is financed with

A. Capital raised from shareholders
B. Tax payer's money
C. Capital raised from stock exchange
D. Capital contributed by owners