2019 JAMB Economics past questions and answers

Shown in this post are some of the JAMB 2019/2020 past questions and answers on Economics.

Subject: Economics
Year: 2019/2020

Questions and Answers

1. the effect of an expansionary monetary system above the full employment level is a
Ans. rise in the inflation rate

2. the minimum amount of money a company is allowed to raise b issuing shares to the public is
Ans. authorized capital

3. the value of money will appreciate if
Ans. price decrease

4. in Nigeria, government can ensure a continuous supply of agricultural produce in al the seasons by
Ans. provide adequate and efficient storage facilities

5. from the above table calculate the coefficient of elasticity of demand
Ans. 0.75

6. the reduction of the high fertility rate is a measure of population control designed
Ans. make growth I population

7. capital accumulation for low-income earners is better done through
Ans. credit and thrift societies

8. the government of Nigeria can conserve foreign exchange by
Ans. restricting import through import quotas

9. the minimum number of persons who are legally allowed to operate in a partnership business is between
Ans. 2 and 20

10. from the above diagram, given the existing resources in the economy, a movement from h of will lead to the production
Ans. more cotton and less coal

11. GNP is not a good measure of social welfare because they are unrecorded
Ans. transfer payment

12. one of the major goals of OPEC is to
Ans. ensure that quota production is strictly followed

13. one of the factors considered in the determinant of wages is
Ans. the rise involved in an occupation

14. if government expenditure exceeds its revenue, this will give rise to a
Ans. budget deficit

15. from the above diagram at which point is the total utility higher
Ans. Call to get the rest

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