Economic Growth and Development - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 1987

For the improvement of the welfare of a people, a high production level is not enough because

A. The have-nots deserve more than a fair share
B. Equitable distribution is necessary
C. Production efficiency is vital
D. Savings in the country must be guaranteed at more than 50 percent of income earned.

Question 22:

• JAMB 1987

Economic development is defined as?

A. Positive change plus growth
B. Avalibility of more goods and services
C. Outward shift of the production possibility curve
D. Growth in the national income

Question 23:

• JAMB 1988

The most threatening problem for the less developed countries is?

A. The continual depletion of their soil fertility
B. The rise of nationalism
C. Population explosion
D. Their differences towards economic growth

Question 24:

• JAMB 1988

An increase in an economy's productive capacity implies?

A. An increase in the economy's rate of capital replacement
B. An increase in the economy's capital stock
C. A decrease in government spending
D. An increase in government spending

Question 25:

• JAMB 1989

A sustained increase in the per capita income of a country over a period of time is called?

A. Economic growth
B. Economic development
C. Structural change
D. Stagflation