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Economics 2019 JAMB Past Questions

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16

Restrictive monetary policy is designed to curtail aggregate demand and to overcome________

  • A. Deflation
  • B. Reinflation
  • C. Disinflation
  • D. Inflationary gap
View Answer & Discuss JAMB 2019
17

The average curve and the marginal curve are U-shaped in the short-run and flatter in the long-run due to________

  • A. Economies of scale
  • B. Money cost
  • C. Opportunity cost
  • D. Cost functions
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18

The most important cost curve for the firm is_________

  • A. MC
  • B. AC
  • C. TC
  • D. FC
View Answer & Discuss (2) JAMB 2019
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19

In the case of highly or close complementary goods, the indifference curve is_______

  • A. A straight line
  • B. A right-angled
  • C. L - shaped
  • D. Curvature
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20

One of these is not an assumption of the cardinalist theory of utility?

  • A. The consumer is rational
  • B. Diminishing marginal utility
  • C. The concept of money utility
  • D. Consistency and transivity of choice
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