Jamb Economics Past Questions For Year 2002
Question 1
If goods P and Q are purchased by a consumer, a fall in the price P with the price Q unchanged will cause the budget line to
- A. shift parallel inwards
- B. rotate outwards away from the origin
- C. rotate inwards towards the origin.
- D. shift parallel outwards
Question 2
In the diagram above, what is the excess demand at the price of N60
- A. 200
- B. 300
- C. 600
- D. 100
Question 3
In the pie chart below, the percentage for children is equivalent to
- A. 288 o
- B. 720 o
- C. 90 o
- D. 144 o
Question 4
In the diagram above, the marginal rate of substitution of X for Y, for a movement from S to T is
- A. 13:3
- B. 1:5
- C. 18:4
- D. 5:1
Question 5
In the diagrams, the opportunity cost of a unit of cotton in terms of cocoa is
- A. 4 for Ghana; 2 for Nigeria
- B. 20 for Ghana; 60 for Nigeria
- C. 1/4 for Ghana; 1/2 for Nigeria
- D. 5 for Ghana; 30 for Nigeria
