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Jamb Economics Past Questions and Answers

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Jamb Economics Past Questions

Question 21:


The shape of the production possibility frontier is determined by the_________

A. Law of returns to scale
B. Law of diminishing returns
C. Factors of productions
D. Technology


Question 22:


As indifference curve shows equal level of satisfaction at all points, An isoquant shows equal level of_________

A. Input
B. Commodities
C. Output
D. Factors


Question 23:


Which of the following is not a cause of unemployment_______

A. Poor education
B. Lack of skills
C. Good government planning
D. Corruption


Question 24:


The demand for labour is a________

A. Derived demand
B. Joint demand
C. Complementary demand
D. Composite demand


Question 25:


The use of government income and expenditure instrument to regulate the economy is termed______

A. Monetary policy
B. Physical policy
C. Fiscal policy
D. Public finance






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