by Sunday | Oct 23 | Economics JAMB
A. 50% B. 25% C. 8% D. 80% Correct Answer: Option D = 80% Explanation The percentage of working population in 2002 = Working population /Total population X 100% 32/40 X 100% = 80%
by Sunday | Oct 23 | Economics JAMB
A. 33.3% B. 20.0% C. 11.0% D. 50% Correct Answer: Option D = 50% Explanation Population growth rate = the difference between the previous year population and the current year population divided by the previous year 2002 population = 40,000 2003 population = 60,000...
by Sunday | Oct 23 | Economics JAMB
A. number of skilled labour available B. skill of labour C. marginal productivity of labour D. price of the inputs Correct Answer: Option C – marginal productivity of labour Explanation The demand for an additional amount of labour depends on the Marginal...
by Sunday | Oct 23 | Economics JAMB
A. level of technical know-how B. rate of population growth C. availability of natural resources D. level of income Correct Answer: Option A – level of technical know-how Explanation The method of production has to do with Processes and techniques that are used...
by Sunday | Oct 23 | Economics JAMB
A. provide subsidies on imported goods to member countries B. mobilize short-term loans for member countries C. promote economic and social development of member countries D. provide technical assistance to only poor member countries Correct Answer: Option C –...