JAMB UTME - Economics - 1984

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

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

One of the advantages of large - scale production is that

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

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

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?

The Central Bank instrument of control does NOT include

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

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

The diagram illustrates

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

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

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?

One disadvantage of sole proprietorship is its?

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

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?

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

In taxation, the benefit principle requires that?

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

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

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

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

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

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

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?

An improvement in Nigeria's terms of trade should

Division of labour is limited by?

The most important characteristic of money is?

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

An imperfectly competitive market is one where?

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

The economic goal of public utilities is to?

A demand curve slopes downwards because of ?

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

Cost push inflation takes place due to?

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

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

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

The channel for food distribution in Nigeria consist of?

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

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

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

Generally, property taxes?

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

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

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

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

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

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

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