2023 – JAMB ECONOMICS PAST QUESTIONS & ANSWERS CBT PRACTICE You can also check in for latest; 9JA Music Gospel Music Foreign Music 3 12345678 Economics 2023 CBT Questions 1 / 8 1. If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20 ................ ? a) 3 b) 2 c) 5 d) 4 2 / 8 2. Looking at the diagram above what does it represents ................... ? a) structural unemployment b) cyclical unemployment c) frictional unemployment d) volunatary unempployment 3 / 8 3. The short run can be defined as the period of time during which .................. ? a) All inputs are fixed b) All inputs are variable c) At least two inputs are fixed d) At least one of the firm's input is fixed 4 / 8 4. In a two by two model of international trade, it is assumed that ........................ ? a) both countries could gain from trade at the same time, but the volume of the gains depends on terms of trade b) neither country could ever gain from trade since term of trade is depends on the distribution of the gains from trade c) both countries could gain from trade at the same time, but term of trade is inconsequential for the distribution of the gains d) both countries could gain from trade at the same time, and the volume of the gains does not depend on terms of trade 5 / 8 5. The term 'investment' in macroeconomics means ................... ? a) The production of goods for immediate consumption b) Total amount of money invested in bonds and stocks c) The total amount of capital goods in the country d) Profit 6 / 8 6. ------------- is NOT the cause of balance of payments (BOP) deficits in Nigeria. a) High servicing of debt b) Export promotion c) Poor performance of non-oil sector d) No import substitution strategies 7 / 8 7. One major problem facing West African countries is ...................... ? a) Relations with Colonial Masters b) Financial crunch of Member States c) Joint Military operations in Member States d) Political integration 8 / 8 8. The development of an economic hypothesis through intuition, insight, or logic is associated with ...................... ? a) Induction b) Deduction c) Policy economics d) Normative economics Your score is The average score is 46% Restart Cbt Please click the stars to rate the quiz Send feedback
