JAMB UTME - Economics - 1984

The Central Bank instrument of control does NOT include

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

"$$P_{x}/P_{m} > 1$$"

The diagram illustrates

Antwoorddetails

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

Antwoorddetails

The most important characteristic of money is?

Antwoorddetails

One of the advantages of large - scale production is that

Antwoorddetails

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.

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

Antwoorddetails

Division of labour is limited by?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

In taxation, the benefit principle requires that?

Antwoorddetails

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

Antwoorddetails

One disadvantage of sole proprietorship is its?

Antwoorddetails

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

Antwoorddetails

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?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

Cost push inflation takes place due to?

Antwoorddetails

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

Antwoorddetails

The channel for food distribution in Nigeria consist of?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The economic goal of public utilities is to?

Antwoorddetails

Generally, property taxes?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

An imperfectly competitive market is one where?

Antwoorddetails

An improvement in Nigeria's terms of trade should

Antwoorddetails

A demand curve slopes downwards because of ?

Antwoorddetails