JAMB UTME - Economics - 1979
Question 4 Report
If two commodities are good substitutes for one another, e.g butter and margarine,an increase in the demand for one will reduce the demand for the other. This type of demand is called
Answer Details
Question 5 Report
If Mr A earns N2,000 a year while Mr B earns N8,000 but Mr a pays N200 in tax per annum while Mr B pays N400, such a tax is
Answer Details
Question 6 Report
The total value of goods and services sold and bought in a country across its border during a given period, usually a year is known as
Question 7 Report
Which of the following type of capital is not rewarded by means of dividends?
Answer Details
Question 8 Report
Which of the following is not a component of national income at factor cost?
Answer Details
Question 9 Report
When the price of a commodity is below the equilibrium price the quantity demanded will exceed the quantity supplied. Such a situation is referred to as
Answer Details
Question 11 Report
The burden of tax on a commodity whose demand is infinitely inelastic
Answer Details
Question 14 Report
The lowering of the exchange rate between country's currency and other currencies is known as
Answer Details
Question 19 Report
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
Answer Details
Question 21 Report
which of the following is not true about occupational distribution of the labour force of West Africa?
Answer Details
Question 22 Report
What do we call a market where there is large number of buyers and sellers, such that no one has an appreciable influence over prices?
Answer Details
Question 24 Report
Which of the following is not true of the theory of optimum population?
Answer Details
Question 25 Report
One of the reason why the condition of supply of a commodity may change is
Answer Details
Question 27 Report
which of the financial institutions cannot direct tax loans to individuals?
Answer Details
Question 31 Report
The pre-dominance of non-working housewives and maids in West Africa
Question 35 Report
Which is the most liquid of the following financial assets held by an individual?
Answer Details
Question 39 Report
when the demand curve shift to the right it indicate that a larger quantity is demanded at each price. This is caused by one of the following
Answer Details
Question 40 Report
The central bank controls the activities of other banks by all but one of the following
Answer Details
Question 42 Report
Which of the following assets of the commercial bank does not yield revenue?
Answer Details
Question 43 Report
When the average physical product curve is rising the marginal physical product is
Answer Details
Question 44 Report
which of these alternative is wrong? central banks are
Question 46 Report
| Number of Workers | Total Products |
| 1 | 10 |
| 2 | 28 |
| 3 | 48 |
| 4 | 72 |
| 5 | 80 |
Study the table above: What is the marginal product of the second worker?
Answer Details
Question 47 Report
The quantity supplied of a commodity increases best when
Question 48 Report
If the quantity demanded of a commodity increases from 20 to 30 when there is an increase in price from N4 to N5, the elasticity of demand is
