Jamb 1995 Economics Past Questions And Answers
1
Infant industries denote industries which?
- A. are introducing new products
- B. are too young to compete in the world market
- C. produce baby food and mother care products
- D. are allowed time enough to mature for recognition
2
Which of the following is the cheapest for the government in improving the welfare of its citizens?
- A. Subsidy
- B. Income supplement
- C. Donation to specific projects
- D. Wages increase
3
When compared with a labour-intensive industry, a capital-intensive industry employs more?
- A. workers than capital
- B. workers than machinery
- C. raw materials than capital
- D. machinery than workers
4
The best method to curb inflation in Nigeria is to
- A. reduce importation of commodities
- B. increase the general level of production
- C. reduce the volume ofmoney supply
- D. set up price control boards
5
An aging population is a population?
- A. with a high dependency ratio
- B. with many young people
- C. in which the number of old persons is increasing
- D. that is dominated by very old people
6
The major source of Nigeria's foreign exchange is the export of?
- A. skilled manpower
- B. palm kernel and cocoa
- C. crude oil
- D. groundnuts and cotton
7
The ultimate objective of Economics is to?
- A. make effort to understand how the Economy works
- B. make the best use of scarce resources
- C. organize production at the lowest cost
- D. decide under what circumstances the government should intervene inthe economy
8
the Central Bank's expansionary monetary policy is justified at a period?
- A. when the inflation rate is high and the economic is experiencing a boom
- B. of economic depression accompanied by low capacity utilization
- C. when trade unions are clamouring for higher wages
- D. when price of crude petroleum is rising
9
When public enterprises become commercialized, it means that?
- A. the product of the enterprises are further subsidized
- B. they are expected to operate with the primary aim of making profits
- C. the government has decided to divest itself of such enterprises
- D. the staff of the enterprises will be laid off
10
The primary objective of all international economic organizations is to?
- A. ensure that third world countries get a better share of the world's resources
- B. promote international economic co-operation for the mutual benefit of all members
- C. enforce structural adjustment programmes on less developed countries
- D. encourage exports from the developed to the less developed countries