Jamb Economics Past Questions For Year 1997
Question 1
Given that at the beginning of 1973, Nigeria with a birth rate of 3% per annum had a population of 75million. This implied that in that year
- A. The population increased by 2.25million
- B. There were 2.25 million live births
- C. The government have to make provisions for 2.25 million children
- D. 2.25 million - children were born
Question 2
In the diagram below, the curve which represents firm's short-run average variable cost is curve
- A. l
- B. ll
- C. lll
- D. IV
Question 3
From the diagram above, the quantity of output is determined by the point
- A. M
- B. N
- C. H
- D. F
Question 4
The movement of curve I to ll suggests
- A. an improvement in capital goods technology but not in consumer goods technology
- B. a movement from unemployment to full employment
- C. that the output for the society has declined
- D. a gain in consumer goods technique and not in capital goods technique
Question 5
The current stage of the economy is depicted in curve 1. Point P suggests that the economy is
- A. reaching full employment but not full production
- B. attaining full production but not full employment
- C. under capitalized
- D. attaining both full employment and full production
