JAMB UTME - Economics - 1985

A state budget is an outline of planned

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

Under normal circumstances a producer will bear the entire burden of taxation on his output if the?

If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to

Disguised unemployment

The petro- chemical industries are located in the River State of Nigeria due to?

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?

A firm is said to be a public Joint Stock Company when it?

The process by which a country attempts to reduce the import of manufactured goods at home is described as?

Foreign exchange control in Nigeria is administered by the?

Optimum population is desirable because it enables an economy to obtain maximum?

In market economies, resources are allocated through the?

Which of the following is a necessary prerequisite for trade by barter?

When total revenue is at a maximum, marginal revenue is?

The amount of labour a producer hires relative to labour factor inputs depends on the?

One of the functions of the commercial banks is that it is?

One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?

In the table, the marginal cost when output is two, units is

When a business has unlimited liability

Which of the following is NOT a part of the fixed costs of a limited liability company?

An economic problem exists whenever

Limited liability means?

An example of a regressive tax is?

The age distribution of a population is NOT influenced by?

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

Under perfect competition, the long-run equilibrium requires?

Warehousing facilities in the distribution and marketing of products are provided by?

In the figure above, the broken line labelled M is the marginal revenue curve of a

Tax which is levied on goods manufactured, sold or used within a country is?

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

The meaning of scale of preference is?

How many National Development Plans did Nigeria have between 1960 and 1984?

If monopoly is attempting to maximize profit which of the following should it attempt to do?

The table above illustrates the law of

At every point on a indifference curve, the

Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?

The purchasing power of the naira will fall when?

The argument of tariff protection in less developed economies is that such a measure would

The unemployment associated with a recession is called?

Which of the following is NOT a feature of underdevelopment?

By terms of trade, we mean the?

Study the figure above. At paint H the price elasticity of supply is

The interdependence between households and business enterprises illustrated in the figure is known as

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

Because money serves as a standard for deferred payments

The table illustrates the law of diminishing returns on a farm. Which pair of the following answers is appropriate for the missing information in the spaces market X and Y?

The act of combining factor inputs in order to obtain specific output is known as

One main quality of a good is that it

Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?