JAMB UTME - Economics - 1985
Question 1 Report
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?
Question 3 Report
The process by which a country attempts to reduce the import of manufactured goods at home is described as?
Answer Details
Question 4 Report
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?
Answer Details
Question 6 Report
The act of combining factor inputs in order to obtain specific output is known as
Answer Details
Question 8 Report
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?
Answer Details
Question 11 Report
Tax which is levied on goods manufactured, sold or used within a country is?
Answer Details
Question 12 Report
The argument of tariff protection in less developed economies is that such a measure would
Answer Details
Question 13 Report
If monopoly is attempting to maximize profit which of the following should it attempt to do?
Answer Details
Question 15 Report
A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?
Question 16 Report
Under normal circumstances a producer will bear the entire burden of taxation on his output if the?
Answer Details
Question 17 Report
Which of the following is NOT a part of the fixed costs of a limited liability company?
Answer Details
Question 18 Report
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
Answer Details
Question 19 Report
In the figure above, the broken line labelled M is the marginal revenue curve of a
Answer Details
Question 21 Report
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
Answer Details
Question 22 Report
The inefficient distribution of scarce commodities in Nigeria is mostly due to the?
Answer Details
Question 24 Report
By terms of trade, we mean the?
Answer Details
Terms of trade (TOT) refers to the relative price of imports in terms of exports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
Question 27 Report
An example of a regressive tax is?
Answer Details
Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.
Question 29 Report
Warehousing facilities in the distribution and marketing of products are provided by?
Answer Details
Question 30 Report
Which of the following is a necessary prerequisite for trade by barter?
Answer Details
Question 32 Report
Which of the following is NOT among the canons of taxation as set out by Adam Smith?
Answer Details
Question 33 Report
Study the figure above. At paint H the price elasticity of supply is
Answer Details
Question 34 Report
If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?
Answer Details
Question 37 Report
Optimum population is desirable because it enables an economy to obtain maximum?
Answer Details
Question 42 Report
The interdependence between households and business enterprises illustrated in the figure is known as
Answer Details
Question 43 Report
How many National Development Plans did Nigeria have between 1960 and 1984?
Answer Details
Question 45 Report
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?
Answer Details
Question 46 Report
Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?
Answer Details
Question 47 Report
The amount of labour a producer hires relative to labour factor inputs depends on the?
Answer Details
Question 50 Report
The petro- chemical industries are located in the River State of Nigeria due to?
