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Economics 2011 JAMB Past Questions

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41

The average total cost when 20 units are produced is

  • A. N20.00
  • B. N23.00
  • C. N13.00
  • D. N15.00
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42

When 20 units of output is produced, TC will be

  • A. N360
  • B. N300
  • C. N460
  • D. N400
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43

The deflationary gap is defined by

  • A. X
  • B. K
  • C. X + K
  • D. X - K
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44

What does X represent?

  • A. recessionary gap
  • B. GNP gap
  • C. inflationary gap
  • D. deflationary gap
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45

The median of an odd-numbered set of scores is the

  • A. Middle value in the set
  • B. Highest value in the set
  • C. Arithmetic means of the set
  • D. Most frequent occuring score
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