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.
11
17
23
47
Correct answer is B
No explanation has been provided for this answer.
If \(\bar{x}\) = 6 and N = 6, determine the value of ∑fx
36
12
1
72
Correct answer is A
\(\bar{x}\) = ∑fx
n
Cross multiply, hence we have;
∑fx = x * n 6 * 6 = 36
Inelastic supply
Perfect supply
Elastic supply
Unitary elastic
Correct answer is C
No explanation has been provided for this answer.
The velocity of money is represented as
\(\frac{\text{Money supply}}{\text{Real GDP}}\)
\(\frac{\text{Real GDP}}{\text{Money supply}}\)
\(\frac{\text{Nominal GDP}}{\text{Money supply}}\)
\(\frac{\text{Real GDP}}{\text{Nominal GDP}}\)
Correct answer is A
The velocity of money is a measurement of the rate at which money is exchanged in an economy. The velocity of money is simply calculated by dividing the money supply by the economy's GDP.
money supply
GDP
If P = \(\frac{1}{2}\)(Qs + 15). What is the quantity supplied at N9.00?
33.0
12.0
3.0
1.5
Correct answer is C
No explanation has been provided for this answer.