2005 - JAMB Economics Past Questions and Answers - page 1
1
The regulatory authority of the capital market in Nigeria is the
A
Central Bank
B
Securities and Exchange Commission
C
Nigerian Deposit Insurance Corporation
D
Stock Exchange Market
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2
In the long run, the equilibrium point of a monoplistic firm is a point where the
A
marginal cost curve is tangential to the average fixed cost curve
B
demand curve is tangential to the average variable cost curve
C
supply cuvre is tangential to the marginal cost curve
D
demand curv is tangential to the average cost curve
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3
Given that Y= C+I, where C= 50+0.75 and I = N45m, what is the equilibrium level of income?
A
N380m
B
N20m
C
N180m
D
N200m
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4
Above full employment level, an expansionary monetary policy will lead to a
A
decrease in aggregate supply
B
fall in the inflation rate
C
rise in the inflation rate
D
fall in aggregate demand
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5
A major assumption in a perfectly competitive market is that
A
the number of buyers and sellers is small
B
individuals cannot influence prices
C
the quality of products remains the same
D
prices will always remain constant
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6
A discount house is a market where
A
various bills are exchanged
B
short-term and medium-term loans are obtained
C
shares are bought and sold
D
short-term loans are obtained
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7
Idle cash balances are held for
A
planned purchases
B
the purchase of bonds
C
the purchase of shares
D
unplanned purchases
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8
In a particular year, the sum of the value added in each sector of the economy was N4550 million
The amount represents the GNP measured by the
The amount represents the GNP measured by the
A
factor-price approach
B
output approach
C
income approach
D
expenditure approach
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9
Population density is described as the
A
average number of people per square kilometre
B
average number of people in a country
C
total population excluding migration
D
total population including net migration
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10
The short-run inelasticity of supply of agricultural produce causes
A
stability in prices
B
a steady rise in prices
C
a steady decline in prices
D
instability in prices
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