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.
Local consumption will decrease
More unskilled labour will be employed
Foreign exchange will be conserved
It will attract more tourists
Correct answer is C
No explanation has been provided for this answer.
Agricultural productivity may be increased if
Educational institutions are established in rural areas
Commercial banks are established in rural areas
More infrastructural facilities are provided in rural areas
Labour intensive method of agriculture is encouraged
Correct answer is D
Increased agricultural productivity leads to agricultural growth and can help to alleviate poverty. Intensive agriculture is a system of cultivation using large amounts of labor and capital relative to land area. This is one way productivity can be encouraged in agriculture.
The use of interest rates to control the money supply is a
Control policy
Monetary policy
Developmental policy
Fiscal policy
Correct answer is B
Monetary policy is made up of policies drafted by the central bank to manage the supply of money and interest rates, aimed at controlling inflation, consumption, growth, and liquidity.
Human development can be improved if
Banks give more loans to businessmen
Large family sizes are encouraged
General education and training are encouraged
It is handled by the private sector only
Correct answer is C
Human development can be improved when people are encouraged to get educated and trained on various skills.
Malthusian theory of population was proved wrong because
The practice of subsistence farming was encouraged
Developing countries adopted birth control method
New lands and new methods of production were discovered
Malthus view was seen as an exaggeration
Correct answer is C
The Malthusian theory was criticized based on the observations that the population was rising at a rapid rate in some parts of the world. At the same time, the food supply had also increased due to technological developments. Many times, food production had increased more than the population.