Jamb 2010 Economics Past Questions And Answers
1
The ultimate aim of agricultural policies in Nigeria is to achieve?
- A. food sufficiency
- B. industrialization
- C. full employment
- D. industrial capacity utilization
2
Government can boost agricultural output in Nigeria primarily by
- A. embarking on buffer stock programmes
- B. placing embargo on food importation
- C. granting subsidies on farm inputs
- D. placing farmers on monthly income
3
If the demand for a good is more elastic than its supply, the tax burden is borne
- A. equally by consumers and producers
- B. more by producers
- C. more by consumers
- D. more by retailers and producers
4
The ultimate aim of agricultural policies in Nigeria is to achieve
- A. food sufficiency
- B. industrialization
- C. full employment
- D. industrial capacity utilization
5
The downturn in the prices of shares on stock markets is a highlight of
- A. efficient allocation of resources
- B. the invisible hand
- C. the regulatory nature of the market
- D. consumer rationality
6
In developing countries, governments influence the location of industries in order to
- A. spread development
- B. redistribute wealth
- C. encourage enterpreneurs
- D. encourage industries to earn high profits
7
By buying treasury bills, the Central Bank of Nigeria intends to
- A. increase money supply in the economy
- B. reduce the cash reserve ratio for banks
- C. reduce money supply in the economy
- D. increase the capital base of commercial banks
8
If the coefficient of price elasticity of supply is greater than one, the supply is said to be
- A. perfectly elastic
- B. fairly inelastic
- C. infinitely inelastic
- D. fairly elastic
9
Localization of industries refers to the
- A. spread of firms producing different products
- B. siting of industries near the market
- C. concentration of firms of an industry
- D. siting of firms producing different products
10
The rising portion of the long-run average cost curve of a firm is an indication that it is experiencing
- A. increasing efficiency
- B. economies of scale
- C. diseconomies of scale
- D. increasing marginal returns