JAMB UTME - Economics - 1985
Pregunta 1 Informe
If monopoly is attempting to maximize profit which of the following should it attempt to do?
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Pregunta 2 Informe
Which of the following is NOT a part of the fixed costs of a limited liability company?
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Pregunta 3 Informe
An example of a regressive tax is?
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Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.
Pregunta 4 Informe
Tax which is levied on goods manufactured, sold or used within a country is?
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Pregunta 5 Informe
Under normal circumstances a producer will bear the entire burden of taxation on his output if the?
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Pregunta 6 Informe
Which of the following is a necessary prerequisite for trade by barter?
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Pregunta 8 Informe
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
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Pregunta 9 Informe
In the table, the marginal cost when output is two, units is
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Pregunta 10 Informe
Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?
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Pregunta 11 Informe
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?
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Pregunta 12 Informe
Warehousing facilities in the distribution and marketing of products are provided by?
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Pregunta 13 Informe
The unemployment associated with a recession is called?
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Pregunta 15 Informe
Which of the following is NOT among the canons of taxation as set out by Adam Smith?
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Pregunta 16 Informe
In market economies, resources are allocated through the?
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Pregunta 17 Informe
The process by which a country attempts to reduce the import of manufactured goods at home is described as?
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Pregunta 18 Informe
One of the functions of the commercial banks is that it is?
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Pregunta 20 Informe
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?
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Pregunta 21 Informe
The petro- chemical industries are located in the River State of Nigeria due to?
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Pregunta 23 Informe
The act of combining factor inputs in order to obtain specific output is known as
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Pregunta 24 Informe
Because money serves as a standard for deferred payments
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Pregunta 25 Informe
Optimum population is desirable because it enables an economy to obtain maximum?
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Pregunta 26 Informe
A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?
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Pregunta 27 Informe
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
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Pregunta 29 Informe
Which of the following is NOT a feature of underdevelopment?
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Pregunta 30 Informe
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?
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Pregunta 31 Informe
The inefficient distribution of scarce commodities in Nigeria is mostly due to the?
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Pregunta 33 Informe
If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?
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Pregunta 35 Informe
Foreign exchange control in Nigeria is administered by the?
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Pregunta 36 Informe
The amount of labour a producer hires relative to labour factor inputs depends on the?
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Pregunta 37 Informe
The argument of tariff protection in less developed economies is that such a measure would
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Pregunta 38 Informe
In the figure above, the broken line labelled M is the marginal revenue curve of a
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Pregunta 39 Informe
The interdependence between households and business enterprises illustrated in the figure is known as
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Pregunta 41 Informe
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?
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Pregunta 42 Informe
Under perfect competition, the long-run equilibrium requires?
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Pregunta 43 Informe
A firm is said to be a public Joint Stock Company when it?
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Pregunta 46 Informe
The age distribution of a population is NOT influenced by?
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Pregunta 47 Informe
Study the figure above. At paint H the price elasticity of supply is
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Pregunta 48 Informe
When total revenue is at a maximum, marginal revenue is?
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Pregunta 49 Informe
How many National Development Plans did Nigeria have between 1960 and 1984?
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Pregunta 50 Informe
By terms of trade, we mean the?
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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.
