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