JAMB Economics 2005 Past Questions

The regulatory authority of the capital market in Nigeria is the

In the long run, the equilibrium point of a monoplistic firm is a point where the

Given that Y= C+I, where C= 50+0.75 and I = N45m, what is the equilibrium level of income?

Above full employment level, an expansionary monetary policy will lead to a

A major assumption in a perfectly competitive market is that

A discount house is a market where

Idle cash balances are held for

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

Population density is described as the

The short-run inelasticity of supply of agricultural produce causes

The major contribution of the petroleum industry to the Nigerian economy is the

During a conflict between management and workers, the union's bargaing power is based on

Localization of industries in Nigeria is mainly influenced by

If the death rate of a country is 52% and the growth rate is 12%, what is the birth rate of the county

Agricultural backward-linkage effect means the establishment of

The distinction between onshore and offshore operations in oil exploration lies in the

Long-run production is called

For a firm to break even in the long run, the marginal cost curve must cut the

An increase in the quantity supplied of commodity suggests

An example of a long-run cost of a firm is

In a car assembly plant, division of labour is demonstrated by

Under perfect competition, the short-run supply curve of a firm is determined by its

The hoarding of goods is usually experienced when

The technical relationship between input combination and maximum attainable output is called

If the marginal utility of the last unit of commodity X at N2 is 16 and that of commodity Y at N 4 is 24, the consumer will be at equilibrium when

A buyer who haggles in the market is applying the principle of

An inverse relationship between price and quantity demanded implies that

When the marginal utility of a commodity is zero the total utility is

Economic freedom is a basic feature of economy

If elasticity of demand is greater than I and less than infinity, demand is said to be

In economics, production takes place only when

The monetization policy of the Nigerian government is aimed at

The price index computed between two time periods is given as 128%,This implies that the

The problem of planning in Nigeria is mainly in the

The raising of funds by selling stocks to the public is called

The loans from the World Bank to developing countries are mainly to support

Economic growth is different from economic development because economic growth

A long-term capital outflow is recorded in the balance of payment as a

Business organization in which the owners' personal property may be forfeited in the event of bankruptcy are

Economic growth is different from economic development because economic growth

The factor responsible for the current inflationary pressures in Nigeria is the

If government increases in its expenditure on public works, the desired effect is

An institution that regulates trade relations among members is the

What is the median quantity?

Applying the law of comparative costs, how many units of groundnuts will Nigeria produce?

FIND THE MEAN PRICE OF THE DISTRIBUTION

The difference in each country's total output on specification is

A profit maximizing monopolist should produce within the range where his demand is

The savings deposit in a commercial bank is called

\(\begin{array}{c|c}
\text{Output(kg)} & 240 & 450 & 580 & 630 \\
\hline
\text{MR(N)} & 75 & 48 & -40 & -22 \\
\hline
\text{MC(N)} & 41& 48 & 77 & 20 \\
\end{array}\)

Given the table above, what is the firm's short - run profit maximizing output?