Economics Past Questions

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2981

Which of the following occurs in the circular flow of economic activities with no leakages

A. Consumption equals saving
B. Saving equals investment
C. Imports equal exports
D. National income equals national expenditure

View Answer & Discuss JAMB 1988

2982

The multiplier is defined as

A. The ratio of the change in income to the change in investment
B. The change in investment divided by the change in income
C. \(\frac{1}{MPC}\)
D. \(\frac{1}{1-\text{MPS}}\)

View Answer & Discuss JAMB 1989

2983

The demand curve would shift to the left when there is a rise in

A. Constant proportions
B. Constant complement
C. Income
D. The supply of the commodity

View Answer & Discuss JAMB 1990

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2984

In combining inputs x and y, the entrepreneur obtains the maximum output from a given money outlay when

A. \( \begin{matrix} P_ x = P _ y \\ MP _ x = MP _ y \end{matrix} \)
B. \(\begin{matrix} MP _ x = P _ x \\ MP _ y = P _ y \end{matrix}\)
C. P _x. MP _x = P _y. MP _y
D. P _x P _y = MP _x. MP _y

View Answer & Discuss (1) JAMB 1991

2985

\(\begin{array}{c|c}
\text{Age group(years)} & \text{Distribution(%)} \\ \hline
\text{Above 60} & 30 \\
\hline
15 - 60 & 45 \\
\hline
0 - 14 & 25 \\
\end{array}\)

The estimated dependency ratio of the population distribution shown here is

A. 11:9
B. 9:11
C. 7:3
D. 3:7

View Answer & Discuss (3) JAMB 1992

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