💻JAMB CBT PRACTICE (ECONOMICS)

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💻 JAMB CBT PRACTICE (ECONOMICS)

JAMB CBT PRACTICE/MOCK (ECONOMICS)

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1) If demand function for a product is Qd = 30 – 4P, and the price and quantity of products is 4 and 14 respectively. What is the price elasticity of demand for the product?

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2) Which of the following is an example of free good?

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3) The type of unemployment that occurs when an individual cannot find job as a result of obsolete skill is___

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4) The term ‘investment’ in macroeconomics means___

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5) 40 men were employed on a farm, and they produced an average of 30 tonnes of cassava per person. Calculate the total product.

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6) The number of people who are qualified to work and who offered themselves for employment are called__

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7) A ………… in the price of the domestic currency in terms of a foreign currency is referred to as ………….

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8) The mining sector of an economy contributes 60% to the Gross Domestic Product(GDP). If the GDP is $540, what is the contribution of the mining sector?

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9) One major problem facing West African countries is___

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10) Scale of preference shows__

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11) In a free market economy, the rationing of scarce goods is done principally by?

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12)  

————- is NOT the cause of balance of payments (BOP) deficits in Nigeria

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13) Among all the determinants of economic growth, the most important one is

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14) Which of the following Age group belongs to active Labour force?

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15) The quantity of commodity a consumer is willing and able to buy at a particular time is called___

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16) A tariff is a tax imposed on__

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17) Calculate the equilibrium level of national income (Y) where Y = C + I + G; C = 100 + 0.75Y; I = 50; G = 200

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18) Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?

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19) If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?

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20) If commodities X and Y are substitute, their cross elasticity of demand will be

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21) The demand curve for goods of ostentation is usually__

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22) A major characteristic of natural resources is they___

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23) The development of an economic hypothesis through intuition, insight, or logic is associated with__

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24) The economies of West African Countries depend majorly on___

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25) A persistence rise in the prices of inputs will lead to

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26) The short run can be defined as the period of time during which___

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27) Overpopulation is caused by___

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28) Real cost is___

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29)  

………………… is the highest body in ECOWAS organogram

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30) The principle that specified that the amount, when and how to pay tax should be made known to tax payer is known as

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