JAMB UTME - Economics - 1986 | Green Bridge CBT

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

N100.00

N1,000.00

N9,000.00

N10,000.00

Detalles de la respuesta

Read lesson note on Banking (JAMB)

Banking

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Pregunta 21 Informe

ECOWAS will enable the countries involved to achieve

comparative political advantage over other countries not in the region

a large market for their products

military superiority over countries not in the region

lower the transportation codt of goods wthin the region

Detalles de la respuesta

Read lesson note on Economic Integration (WAEC)

Read lesson note on International Trade And Balance Of Payments (WAEC)

Economic Integration

International Trade And Balance Of Payments

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Pregunta 22 Informe

Which of these is the real cost of satisfying any want in the sense of the alternative that has to be foregone?

Variable cost

opportunity cost

Total cost

Prime cost

Detalles de la respuesta

Read lesson note on Theory Of Costs (JAMB)

Theory Of Costs

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Pregunta 23 Informe

A firm is at its optimum size when?

it produce the greatest output at a minimum cost

it has a motive to increase output

marginal cost equals marginal revenue

marginal cost is less than marginal revenue

Detalles de la respuesta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Theory Of Costs (JAMB)

The Theory Of Production

Theory Of Costs

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Pregunta 24 Informe

Population density refers to?

densely populated urban centres

the total area divided by the total population

densely populated rural areas

the total population divided by the total area

Detalles de la respuesta

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Pregunta 25 Informe

The term of trade often measured by the ratio of the index of export

divided by the index of import prices multiplied by 100

multiplied by the index of import prices

plus the index of import prices multiplied by 100

minus the index of import prices

Detalles de la respuesta

Read lesson note on International Trade (JAMB)

International Trade

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Pregunta 26 Informe

Which of the following strategies will provide more employment opportunities for Nigerians?

Investment in social services

Industrialization

Economics planning

Eradication of illiteracy

Detalles de la respuesta

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Pregunta 27 Informe

Balance of payment deficit in Nigeria CANNOT be solved by

importing more goods and services

devaluation of the currency

imposing import duties

imposing import bans on some commodities

Detalles de la respuesta

Read lesson note on Economic Integration (WAEC)

Read lesson note on International Trade And Balance Of Payments (WAEC)

Economic Integration

International Trade And Balance Of Payments

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Pregunta 28 Informe

The best technical description of a progressive tax is a?

tax which takes more money from the rich than from the poor

more equitable tax than aggressive one

tax which takes a higher proportion of extra naira received as income rises

tax which falls directly on those in the high income brackets

Detalles de la respuesta

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Demand

The Theory Of Price Determination

Economics As A Science

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Pregunta 29 Informe

In a public company, shares are?

sold to one person only

distributed freely

advertised to members of the public for subscription

disposed by the Chief Executive

Detalles de la respuesta

Read lesson note on Distributive Trade (WAEC)

Read lesson note on Economic Systems (JAMB)

Distributive Trade

Economic Systems

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Pregunta 30 Informe

One of the advantages of a partnership over a sole proprietorship is that?

it is the most popular form of business organization

the patern can easy withdraw from business

it makes an increase in the capital of the business possible

there is no limit to the number of people who may bring in capital

Detalles de la respuesta

Read lesson note on Business Organizations (WAEC)

Business Organizations

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Pregunta 31 Informe

The most important economic characteristic differentiating commercial banks from other financial institutions is their?

function as a safe and profitable store place for savings

role in financing balance of payment deficits

status as an intermediary between savers and borrowers

ability to create and destory money

Detalles de la respuesta

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Pregunta 32 Informe

In drawing an individual's demand curve for a commodity, which of the following is not kept constant? The

individual's money income

price of subtitutes

price of complementary goods

price of the commodity under consideration

Detalles de la respuesta

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

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Pregunta 33 Informe

Mobility of labour is NOT affected by

optimum size of population

marriage and family

regulation of trade unions

period of training

Detalles de la respuesta

Read lesson note on Population And Labour Market (WAEC)

Read lesson note on Population (JAMB)

Population And Labour Market

Population

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Pregunta 34 Informe

Which of the following is used by the Central Bank to control the rate of interest?

Bill of Exchange

Banker's order

Fixed deposit account

Open market operation

Detalles de la respuesta

Read lesson note on Banking (JAMB)

Banking

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Pregunta 35 Informe

In the normal channels of distribution the breaking of bulk is performed by the

producer

wholesaler

retailer

consumer

Detalles de la respuesta

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

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Pregunta 36 Informe

The degree of specialization is limited by the

avalibility of specialized skills and machinery

marginal cost exceeding marginal revenue

extent of the market

disadvantage of standardization

Detalles de la respuesta

Read lesson note on The Theory Of Demand (JAMB)

The Theory Of Demand

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Pregunta 37 Informe

The main function of price mechanism is to?

limit consumer demand

enable producers make profit

allocate scarce resources among competing ends

ensure consumer sovereignty

Detalles de la respuesta

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Pregunta 38 Informe

An nation's distribution of income shows?

the value of all goods produce inthe economy

how income is divided among different groups

where the economy system is on its production possibility curve

the consumption behaviour of the people

Detalles de la respuesta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on National Income (JAMB)

Methods And Tools Of Economic Analysis

National Income

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Pregunta 39 Informe

The most important advantage of co-operative societies is?

their high degree of democracy

the increase inthe cost of marketing

that member are encouraged to save money

the possibility of raising loans for the members

Detalles de la respuesta

Read lesson note on Business Organizations (JAMB)

Read lesson note on Business Organizations (WAEC)

Business Organizations

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Pregunta 40 Informe

A monopolist will practice price discrimination in two markets if?

the cost of separating the markets is large

the markets have different elasticities of demand

there is free flow of information in the two markets

there is a patent of the commodity

Detalles de la respuesta

Read lesson note on Factors Of Production And Their Theories (JAMB)

Read lesson note on Market Structures (WAEC)

Read lesson note on Economics As A Science (JAMB)

Factors Of Production And Their Theories

Market Structures

Economics As A Science

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Pregunta 41 Informe

Which of the following causes of inflation is related to demand-pull inflation?

Low productivity on farms and in firms

Poor storage facilities

Poor distribution system

Increase in expenditure on construction

Detalles de la respuesta

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

The Theory Of Demand

The Theory Of Price Determination

Ver respuesta

Pregunta 42 Informe

To control inflation, the monetary authorities of a country can?

reduce taxes

advise government to increase its expenditure

engage in expansive monetary policy

engage inrestrictive monetary policy

Detalles de la respuesta

Read lesson note on Money And Inflation (WAEC)

Money And Inflation

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Pregunta 43 Informe

The revenue accruing to the seller of commodity X as a result of a fall in price will

increase

fall

first fall but will increase later

remain unchanged

Detalles de la respuesta

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

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Pregunta 44 Informe

One major difference between monopoly and perfect competition is that?

the perfect competitor is a price taker while the monopolist determines his own output

homogeneity of purpose exists for the perfect competitor while non-homogeneity of purpose exist for the monopolist

sellers are located all over the world in the perfect competition but sellers are only in one country in the case of the monopolist

there is free entry and exist in perfect competition but no free exist in monopoly

Detalles de la respuesta

Read lesson note on Market Structure (JAMB)

Market Structure

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Pregunta 45 Informe

Which of the following advantages of localization of industries may also be a disadvantage?

External economies

Concentration of industries and of people

Development of organized markets

Reduced costs of research

Detalles de la respuesta

Read lesson note on Market Structure (JAMB)

Read lesson note on Industry And Industrialization (JAMB)

Market Structure

Industry And Industrialization

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Pregunta 46 Informe

If a person receives a higher wage than would be necessary to induce him to work, he is said to be receiving

rent

profit

interest

surtax income

Detalles de la respuesta

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

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Pregunta 47 Informe

The Nigeria Bank for Commerce and Industry is?

a commercial Bank

a developmment bank

an industrial bank

a merchant bank

Detalles de la respuesta

Read lesson note on Banking (JAMB)

Banking

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Pregunta 48 Informe

What fundamentally determines how much a consumer spends in a producer's shop?

Individual's propensity to consume

level of his taxation

level of his income

Individual's taste or fashion

Detalles de la respuesta

Read lesson note on Public Finance (JAMB)

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on National Income (JAMB)

Public Finance

The Theory Of Demand

National Income

Ver respuesta

Pregunta 49 Informe

Which of the following is NOT a goal of modern budgets?

The control of inflation

The reduction in income inequality

The shift of all resources from the private to the public sector

Economic development

Detalles de la respuesta

Read lesson note on Public Finance (WAEC)

Read lesson note on Public Finance (JAMB)

Public Finance

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Pregunta 50 Informe

Which of the following is an important function of prices in a market economy?

Ensuring that resources are used in the most efficient manner

Ensuring an equitable distribution of goods and services

Ensuring that all industries are perfectly competitive in the long run

Equating level of purchases with level of needs

Detalles de la respuesta

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

Economics As A Science

Economic Systems

Ver respuesta






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