Jamb Economics Past Questions For Year 2005
Question 46
Under perfect competition, the short-run supply curve of a firm is determined by its
- A. total cost curve
- B. marginal cost curve
- C. average fixed cost curve
- D. average cost curve
Question 47
The monetization policy of the Nigerian government is aimed at
- A. encouraging public servants to retire early and become self-employed
- B. transferring government's properties to retired public servants
- C. reducing government's burden on the provision of fringe benefits to public servants
- D. helping government recover properties held by public servants
Question 48
In economics, production takes place only when
- A. producers sell to retailers
- B. value has been added to a commodity
- C. modern equipment is used
- D. consumption has taken place
Question 49
If government increases in its expenditure on public works, the desired effect is
- A. a reduction in the use of capital equipment
- B. an increase in the level of emploment
- C. an increase in the level of inflation
- D. an increase in the use of capital equipment
