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Economics 2011 JAMB Past Questions

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1
An effective way of controlling inflation in a mixed economy is to
  • A. increase productivity
  • B. reduce income tax
  • C. ration available output
  • D. increase imports
View Answer & Discuss (3) JAMB 2011
2
One`of the limitations PPC assumption is that there is
  • A. no indication of technological development
  • B. no recognition of preferred goods for countries
  • C. technical inefficiency
  • D. abundant resources
View Answer & Discuss (4) JAMB 2011
3

A major disadvantage of the arithmetic means is that it is

  • A. not useful for large data
  • B. not suitable for further statistical analysis
  • C. cumbersome to determine the actual value
  • D. affected by extreme data
View Answer & Discuss JAMB 2011
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4

Demand patterns are determined by the market on the basis of

  • A. scale of preference
  • B. consumer sovereignty
  • C. cosumer rationality
  • D. price of the commodity
View Answer & Discuss (2) JAMB 2011
5

A consumer surplus measures the

  • A. benefits derived from consuming a cheap commodity
  • B. excess of total expenditure over total uility
  • C. difference between marginal utility and marginal cost
  • D. excess of marginal utility over price
View Answer & Discuss (1) JAMB 2011
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