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.
Indicator of underdevelopment is
High life expectancy
Low birth rate
Low population growth rate
Low per capita income
Correct answer is D
The indicators of underdevelopment include: high birth rates, high infant mortality, low per capita GDP, high levels of illiteracy, and low life expectancy.
Unemployment will fall
Unemployment will remain constant
Unemployment will increase
Unemployment will fluctuate
Correct answer is C
In general, Okun's findings demonstrated that when unemployment falls, the production of a country will increase and vice versa.
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.