by Sunday | Oct 26 | Economics JAMB
A. income effect is negative B. income effect is positive C. substitution effect is negative D. substitution effect is positive Correct Answer: Option A – income effect is negative
by Sunday | Oct 26 | Economics JAMB
A. price of the good B. degree of necessity of the good C. level of income of consumers D. closeness of the substitutes Correct Answer: Option D – closeness of the substitutes
by Sunday | Oct 26 | Economics JAMB
A. perfectly inelastic supply curve B. perfectly elastic supply curve C. fairly elastic supply curve D. fairly inelastic supply curve Correct Answer: Option A – perfectly inelastic supply curve
by Sunday | Oct 26 | Economics JAMB
A. there is an increase in quantity demanded B. inflation has taken place C. demand has exceeded supply D. there is an increase in demand Correct Answer: Option D – there is an increase in demand
by Sunday | Oct 26 | Economics JAMB
A. estimate the mean from grouped data B. calculate the standard deviation C. determine the spread of a set of data D. measure the difference between the mean and the mode Correct Answer: Option C – determine the spread of a set of...
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