JAMB UTME - Economics - 1984

Which of the following items does NOT belong to a country's current account in the balance of payments accounts?

The diagram illustrates

One of the advantages of large - scale production is that

Answer Details

The usage of machinery helps to oversee in a large scale of production which in turn covers the high amount in time consumption. This makes room for the efficiency of labour as compared to the usage of manpower.

Which Of the following is NOT an obstacle to economic development?

Demand for a commodity by a consumer is the quantity of that commodity that the consumer

Let P x represent the price of exports and Pm the price of imports. Then the terms of trade (TOT) are said to be favourable if

Answer Details

"$$P_{x}/P_{m} > 1$$"

In the diagram, (III) refers to the calculation of national income through the

The channel for food distribution in Nigeria consist of?

The advantages that accrue to a firm as the size of the firm increases are known as

In the diagram, (I) refers to the calculation of national income through the

The economic goal of public utilities is to?

If a person demands money for buying and selling securities. It is referred as demanding money for

If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

A demand curve slopes downwards because of ?

Which of the following is NOT a feature of economic underdevelopment of a country?

In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

The following except ONE, are the differences between international trade and internal trade?

Division of labour is limited by?

An imperfectly competitive market is one where?

A rightward shift in the production possibility frontier may be due to

Which of the following is NOT a determinant of the size economically active population?

In the diagram III refers to the calculationof national income through the

Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

Which of the following does NOT represent the behavior of a monopolist?

The question below is based on the table below:

The international production set for Nigeria and Austria is:

The opportunity cost ratio for cocoa and lace for Austria and Nigeria is

For two substitution goods, the cross elastic of demand is?

One disadvantage of sole proprietorship is its?

pricing and output decisions of sellers are highly interdependent in markets known as?

The question below is based on the table below:

The international production set for Nigeria and Austria is:

From the table, it can be deduced that?

In taxation, the benefit principle requires that?

Generally, property taxes?

The basic principles of co-operative societies are those of?

For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is

The Central Bank instrument of control does NOT include

The main economic objective behind the production of goods and services in any economy is to?

One of the major effects of an increase in government expenditure on a nation’s economy is that it?

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

In the diagram I refers to the calculation of national income through the

Which Of the following is NOT an obstacle to economic development?

Cost push inflation takes place due to?

The control of prices by legislation usually produces a number of consequences. Which of the following is NOT an association problem of maximum price control?

Public expenditure on services, such as education and health, is known as expenditure on

The most important characteristic of money is?

The most important factor determining the location of the cement industry in Nigeria today is ?

The population level that yields the maximum output when combined with available resources is known as

Which of the following is NOT true of debentures and debenture holders?

An improvement in Nigeria's terms of trade should

The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

In the diagram, the supply curve So So shifts to a new position S₁ S₁ to indicate

A perfectly competitive firm does not influence the demand for its commodities bylowering its price below the market price because?