JAMB UTME - Economics - 1985

Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?

Bayanin Amsa

In the figure above, the broken line labelled M is the marginal revenue curve of a

Bayanin Amsa

The amount of labour a producer hires relative to labour factor inputs depends on the?

Bayanin Amsa

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

Bayanin Amsa

The purchasing power of the naira will fall when?

Bayanin Amsa

The interdependence between households and business enterprises illustrated in the figure is known as

Bayanin Amsa

At every point on a indifference curve, the

Bayanin Amsa

The unemployment associated with a recession is called?

Bayanin Amsa

In market economies, resources are allocated through the?

Bayanin Amsa

Disguised unemployment

Bayanin Amsa

Warehousing facilities in the distribution and marketing of products are provided by?

Bayanin Amsa

When a business has unlimited liability

Bayanin Amsa

Foreign exchange control in Nigeria is administered by the?

Bayanin Amsa

Which of the following is NOT a feature of underdevelopment?

Bayanin Amsa

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

Bayanin Amsa

Because money serves as a standard for deferred payments

Bayanin Amsa

Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?

Bayanin Amsa

The argument of tariff protection in less developed economies is that such a measure would

Bayanin Amsa

The age distribution of a population is NOT influenced by?

Bayanin Amsa

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

Bayanin Amsa

A firm is said to be a public Joint Stock Company when it?

Bayanin Amsa

If monopoly is attempting to maximize profit which of the following should it attempt to do?

Bayanin Amsa

Optimum population is desirable because it enables an economy to obtain maximum?

Bayanin Amsa

By terms of trade, we mean the?

Bayanin Amsa

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.

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?

Bayanin Amsa

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?

Bayanin Amsa

An example of a regressive tax is?

Bayanin Amsa

Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.

The act of combining factor inputs in order to obtain specific output is known as

Bayanin Amsa

The meaning of scale of preference is?

Bayanin Amsa

The process by which a country attempts to reduce the import of manufactured goods at home is described as?

Bayanin Amsa

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

Bayanin Amsa

The petro- chemical industries are located in the River State of Nigeria due to?

Bayanin Amsa

Under normal circumstances a producer will bear the entire burden of taxation on his output if the?

Bayanin Amsa

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?

Bayanin Amsa

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

Bayanin Amsa

When total revenue is at a maximum, marginal revenue is?

Bayanin Amsa

Limited liability means?

Bayanin Amsa

One of the functions of the commercial banks is that it is?

Bayanin Amsa

One main quality of a good is that it

Bayanin Amsa

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

Bayanin Amsa

A state budget is an outline of planned

Bayanin Amsa

Study the figure above. At paint H the price elasticity of supply is

Bayanin Amsa

An economic problem exists whenever

Bayanin Amsa

Which of the following is a necessary prerequisite for trade by barter?

Bayanin Amsa

Under perfect competition, the long-run equilibrium requires?

Bayanin Amsa

The table above illustrates the law of

Bayanin Amsa

Which of the following is NOT a part of the fixed costs of a limited liability company?

Bayanin Amsa

In the table, the marginal cost when output is two, units is

Bayanin Amsa

How many National Development Plans did Nigeria have between 1960 and 1984?

Bayanin Amsa

Tax which is levied on goods manufactured, sold or used within a country is?

Bayanin Amsa