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Economics Past Questions

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1236
A characteristic of the linear production function is that
  • A. the percentage change in inputs change exceeds output
  • B. output and all inputs change by the same percentage
  • C. the percentage change in output is greater than one
  • D. the percentage change in output is less than one
View Answer & Discuss JAMB 2007
1237
If the total fixed cost is the same regardless of output, the average fixed cost will be
  • A. increasing
  • B. maximum
  • C. minimum
  • D. decreasing
View Answer & Discuss JAMB 2007
1238
A persistent rise in the prices of inputs will lead to
  • A. hyperinflation
  • B. stagflation
  • C. cost-push inflation
  • D. demand-pull inflation
View Answer & Discuss JAMB 2007
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1239
The monetization policy is an offshoot of
  • A. NEEDS
  • B. SAP
  • C. PAYE
  • D. MDGs
View Answer & Discuss (1) JAMB 2007
1240
A continuous increase in national income accompanied by the structural transformation of all indices is called
  • A. economic planning
  • B. economic growth
  • C. economic reforms
  • D. economic development
View Answer & Discuss (1) JAMB 2007
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