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.
Part-time workers who desire full-time employment are:
Underemployed and contribute to the unemployment statistic
Underemployed but do not contribute to the unemployment statistic
Not part of the labour force and do not contribute to the unemployment statistic
Cyclical unemployment
Correct answer is B
Underemployment includes three groups of people which are: Unemployment workers, Involuntary part-time workers and marginally attached workers. There is currently no data that track this form of unemployment.
Increase; decrease
Decrease; decrease
Increase; increase
Decrease; increase
Correct answer is C
An increase in the real GDP will increase the demand for money and also the interest rate will also increase.
Perfectly elastic
Infinitely elastic
Inelastic
Perfectly inelastic
Correct answer is D
Perfectly inelastic demand is also known as Zero elasticity demand. Zero elasticity of demand is one when whatever the change in price, there is absolutely no change in demand.
Public corporation is financed with
Capital raised from shareholders
Tax payer's money
Capital raised from stock exchange
Capital contributed by owners
Correct answer is B
Public corporations are run by the government through the tax paid by the people. They are established by an act of parliament or decree and it is controlled by the board of directors, appointed by the government.
One major criticism of foreign aid to developing countries is that it
Gives too much power and control to world bank
Encourages growth in government bureaucracy
Is capital using rather than capital saving
Provides incentives for capital flight
Correct answer is C
The loans help to create poverty, as capital that could have been invested instead was channeled into debt repayment.