Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Emigration
Disease
Low Literacy rates
War and conflicts
Correct answer is C
The causes of overpopulation are: falling mortality rate, underutilized contraception, lack of female education etc.
Structural unemployment
Cyclical unemployment
Voluntary unempployment
Frictional unemployment
Correct answer is B
The dotted line in the graph above represent the upturn and downturn of the econonmy. Therefore, the diagram is cyclical unemployment.
The number of people who are qualified to work and who offered themselves for employment are called
Mobility of labour
Working population
Migrant labour
Labour turnover
Correct answer is B
Working population also known as labour force refers to the total number of persons available to supply the labour for the production of economic goods and service. In other words, it is the total number of people of working age in a country who are able and willing by law to work.
Which of the following will cause an increase in cost of production?
Hyper-inflation
Cost push inflation
Structural inflation
Demand pull inflation
Correct answer is B
Cost push inflation occurs when overall prices increase(inflation) due to increases in the cost of wages and raw materials. It can also occur when higher costs of production decrease the aggregate supply in the economy.
Institutions serving as links between surplus and deficit units can be identified as
Tax officers
Pension offices
Financial intermediates
Acceptance houses
Correct answer is C
A financial intermediary is typically an institution that facilitates the channeling of funds between lenders and borrowers indirectly.