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Economics 2013 JAMB Past Questions

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41

One of the main achievements of the Economic Commission for Africa is

  • A. eliminating trade restrictions among states
  • B. encouraging transport and communication development
  • C. guaranteeing a steady flow of foreign investment into Africa
  • D. providing the machinery for collaboration on monetary issues
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42

The rate of interest change on loans depends largely on

  • A. the prevailing exchange rate
  • B. marginal efficiency of capital
  • C. the risk associated with the loan
  • D. the prevailing tax rate
View Answer & Discuss (2) JAMB 2013
43

A valid explanation for real wage growth is

  • A. an increase in the rate of productivity
  • B. the rising cost of capital accumulation
  • C. a contraction of emploment in service industries
  • D. an increase in the quantity of labour
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44

If Mr. X lost his clerical job at a store and searched for a similar job for ten months before finding one this implies that Mr.X was

  • A. structurally unemployed
  • B. frictionally unemployed
  • C. seasonally unemployed
  • D. cyclically unemployed
View Answer & Discuss (3) JAMB 2013
45

From the graph above, the price elasticity of demand is

  • A. unitarily elastic
  • B. perfectly elastic
  • C. perfectly inelastic
  • D. fairly inelastic
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