Practice JUPEB ECONOMICS – MSS – J133 Past Questions Essay and Objectives

36. A tariff is a tax imposed on


             A. Imported goods

 B. Exported goods  C. Domestic goods D. Consumer goods 

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37. The income elasticity of demand is defined as the responsiveness of A. Quantity demanded to a change in price 

B.  Price to a change in income 

C. Quantity demanded to a change in income  D. Price to a change in quantity  

38. The development of an economic hypothesis through intuition, insight, or logic is 



              A. Induction B. Deduction

C. Policy economics

D. Normative economics

39. Microeconomics is the study of

             A. The output of the entire economy

             B. The total number of workers employed in Nigeria

            C. The general level of prices in the Nigerian economy  D. The output and price of wheat in Nigeria.

40. Business cycle is associated with

 A.  Inflation 
 B. Recession
 C. Unemployment 

            D. Seasonal variation

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