JAMB UTME - Economics - 1984
Question 1 Report
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
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Question 2 Report
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
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"$$P_{x}/P_{m} > 1$$"
Question 3 Report
If a person demands money for buying and selling securities. It is referred as demanding money for
Question 4 Report
The population level that yields the maximum output when combined with available resources is known as
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Question 5 Report
For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is
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Question 6 Report
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?
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Question 8 Report
The most important characteristic of money is?
Question 9 Report
In the diagram III refers to the calculationof national income through the
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Question 10 Report
Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?
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Question 11 Report
Which of the following is NOT a feature of economic underdevelopment of a country?
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Question 14 Report
A rightward shift in the production possibility frontier may be due to
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Question 16 Report
Demand for a commodity by a consumer is the quantity of that commodity that the consumer
Question 17 Report
One of the major effects of an increase in government expenditure on a nation’s economy is that it?
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Question 18 Report
A perfectly competitive firm does not influence the demand for its commodities bylowering its price below the market price because?
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Question 20 Report
In the diagram, (I) refers to the calculation of national income through the
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Question 21 Report
In the diagram I refers to the calculation of national income through the
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Question 22 Report
Which Of the following is NOT an obstacle to economic development?
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Question 23 Report
In the diagram, the supply curve So So shifts to a new position S1 S1 to indicate
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Question 25 Report
The main economic objective behind the production of goods and services in any economy is to?
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Question 26 Report
Which Of the following is NOT an obstacle to economic development?
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Question 27 Report
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?
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Question 28 Report
The advantages that accrue to a firm as the size of the firm increases are known as
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Question 29 Report
Public expenditure on services, such as education and health, is known as expenditure on
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Question 30 Report
The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?
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Question 33 Report
The Central Bank instrument of control does NOT include
Question 35 Report
The following except ONE, are the differences between international trade and internal trade?
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Question 36 Report
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?
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Question 37 Report
A demand curve slopes downwards because of ?
Question 38 Report
pricing and output decisions of sellers are highly interdependent in markets known as?
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Question 39 Report
Which of the following is NOT a determinant of the size economically active population?
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Question 41 Report
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?
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Question 43 Report
If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?
Question 44 Report
In the diagram, (III) refers to the calculation of national income through the
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Question 45 Report
Which of the following is NOT true of debentures and debenture holders?
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Question 46 Report
Which of the following items does NOT belong to a country's current account in the balance of payments accounts?
Question 47 Report
The most important factor determining the location of the cement industry in Nigeria today is ?
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Question 49 Report
Which of the following does NOT represent the behavior of a monopolist?
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Question 50 Report
One of the advantages of large - scale production is that
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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.
