Economics 1989 JAMB Past Questions

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If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are

A. complementary goods
B. substitutes
C. inferior goods
D. luxury goods

View Answer & Discuss (1) JAMB 1989

In the diagram above what happens when the minimum wage is fixed at OW?

A. Unemployment is reduced
B. Unemployment results
C. The demand schedule will shift
D. the supply schedule will become steeper

View Answer & Discuss JAMB 1989

The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?

A. 400
B. 500
C. 600
D. 700

View Answer & Discuss (1) JAMB 1989

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The amount, N4.08 million, shown as balance in the table represents

A. terms of payments
B. balance on current accounts
C. balance of trade
D. terms of trade

View Answer & Discuss JAMB 1989

The multiplier is defined as

A. The ratio of the change in income to the change in investment
B. The change in investment divided by the change in income
C. \(\frac{1}{MPC}\)
D. \(\frac{1}{1-\text{MPS}}\)

View Answer & Discuss JAMB 1989

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Economics 1989 JAMB Past Questions

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