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Economics 2017 JAMB Past Questions

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16
Given that ∑fx = 340 and N = 20, find the arithmetic mean.
  • A. 20
  • B. 17
  • C. 32
  • D. 9
View Answer & Discuss (1) JAMB 2017
17
One of the reasons why Nigeria is a mono-economy is because of her _______
  • A. huge volume of petroleum activities in the country
  • B. diversification system of economic activities
  • C. high demand for foreign commodities
  • D. high rate of unemployment
View Answer & Discuss JAMB 2017
18

Given that the total production of Bandako farmers with one worker is 10kg. When the workers increased to 2, 3, and 4, the total production increases to 20, 36 and 60kg respectively.

Calculate the average product (AP) of the 4th unit of labour.

  • A. 20
  • B. 13
  • C. 15
  • D. 10
View Answer & Discuss (3) JAMB 2017
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19
Which of the following is NOT an instrument in the money market?
  • A. Treasury bill
  • B. Bill of exchange
  • C. Stocks and shares
  • D. Call money fund
View Answer & Discuss JAMB 2017
20

Given that Qd = 10 - 2p while Qs = 5 + 3P, if P = N 1 determine the equilibrium quantity

  • A. 7
  • B. 6
  • C. 5
  • D. 8
View Answer & Discuss (2) JAMB 2017
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