"Methods of Economic Analysis" question number distribution across years

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JAMB questions for "Economics :: Methods of Economic Analysis"

Q1

The standard deviation of a set of data is

A

always measured from the mode

B

always measured from the median

C

the most representative of averages

D

a measure of dispersion

E

**Answer:** D

Q2

The mean is the best measure of central tendency because it

A

is not affected by extreme values in a data

B

is a balancing point in an observation

C

is a midpoint value in array of data

D

can be calculated from incomplete data

E

**Answer:** B

Q3

The most popular sizes of dresses and shoes are determines by the

A

range

B

mode

C

mean

D

median

E

**Answer:** D

Q4

A cumulative frequency graph is

A

a histogram

B

an ogive

C

a bar chart

D

a pie chart

E

**Answer:** B

Q5

If the standard deviation of a given data is 8.2, find its variance

A

4.1

B

67.2

C

82.0

D

91.8

E

**Answer:** B

Q8

The range is used to

A

calculate the standard deviation

B

measure the difference between the mean and the mode

C

determine the spread of a set of data

D

estimate the mean from grouped data

E

**Answer:** C

Q11

The maximum number of workers that should be hired is

A

4

B

3

C

2

D

5

E

**Answer:** A

Q12

The range of the data 14,13,15,18,20,35 and 13 is

A

18

B

20

C

22

D

13

E

**Answer:** C

Q14

Find the mean price of the distribution

A

N54

B

N51

C

N56

D

N59

E

**Answer:** B

Q15

In any set of data, the median represents the

A

difference between the highest and lowest values when arranged in ascending order

B

value that is most representative of the data

C

mid-position when the values are arranged randomly

D

mid-position when the values are arranged in ascending of descending order

E

**Answer:** D

Q16

A large standard deviation is an indication of

A

wide spread around the mean

B

the difference between the highest and the lowest values

C

a wide difference the mean and the mode

D

the size of the sample

E

**Answer:** A

Q17

In economic analysis, a statement is said to be normative if it

A

relates to value judgement

B

is incorrect

C

can be tested scientifically

D

is contradictory

E

**Answer:** A

Q18

A scientific approach in economic analysis entails

A

a normative method only

B

both inductive and deductive methods

C

a deductive method only

D

both inductive and a normative methods

E

**Answer:** B

Q19

In the pie chart below, the percentage for children is equivalent to

A

288^{o}

B

144^{o}

C

90^{o}

D

72^{o}

E

**Answer:** B

Q20

If the arithmetic mean of 1,2,5,6,x,16 and 18 is 8.0, find the value of x.

A

7.0

B

6.0

C

8.5

D

8.0

E

**Answer:** D

Q21

If the pass mark was 40, how many students passed the examination?

A

100

B

120

C

160

D

200

E

**Answer:** C

Q22

How many students took the examination?

A

280

B

240

C

200

D

80

E

**Answer:** A

Q23

The graphs above illustrate

A

joint demand

B

derived demand

C

composite demand

D

competitive demand

E

**Answer:** D

Q24

In a firm, three employees earn N5,500 each, four earn N3,300 each, two earn N5,000 each and one earns N7,000. The mean income of employees is

A

N5,200

B

N4,670

C

N4,670

D

N2,080

E

**Answer:** C

Q25

If Y represents the income earned by workers in a factory, find the range of their income which satisfies the following inequality: 4y - 300 > 500

A

y >300

B

y > 250

C

y > 200

D

y > 150

E

**Answer:** C

Q26

The circular flow of income defines the

A

relationship between ends and means in the economic system

B

allocation of income to various members of the household

C

flow of goods, services and money among the various macro-sectors of the economy

D

micro-economic relationships in economic analysis

E

**Answer:** D