JAMB UTME - Economics - 1985
Ibeere 1 Ìròyìn
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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Ibeere 2 Ìròyìn
Under normal circumstances a producer will bear the entire burden of taxation on his output if the?
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Ibeere 5 Ìròyìn
The amount of labour a producer hires relative to labour factor inputs depends on the?
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Ibeere 8 Ìròyìn
In the figure above, the broken line labelled M is the marginal revenue curve of a
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Ibeere 9 Ìròyìn
The argument of tariff protection in less developed economies is that such a measure would
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Ibeere 10 Ìròyìn
Which of the following is NOT a part of the fixed costs of a limited liability company?
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Ibeere 11 Ìròyìn
The act of combining factor inputs in order to obtain specific output is known as
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Ibeere 12 Ìròyìn
Optimum population is desirable because it enables an economy to obtain maximum?
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Ibeere 13 Ìròyìn
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?
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Ibeere 14 Ìròyìn
The petro- chemical industries are located in the River State of Nigeria due to?
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Ibeere 15 Ìròyìn
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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Ibeere 17 Ìròyìn
An example of a regressive tax is?
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Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.
Ibeere 19 Ìròyìn
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
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Ibeere 21 Ìròyìn
If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?
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Ibeere 22 Ìròyìn
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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Ibeere 28 Ìròyìn
Warehousing facilities in the distribution and marketing of products are provided by?
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Ibeere 29 Ìròyìn
If monopoly is attempting to maximize profit which of the following should it attempt to do?
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Ibeere 31 Ìròyìn
How many National Development Plans did Nigeria have between 1960 and 1984?
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Ibeere 32 Ìròyìn
Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?
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Ibeere 33 Ìròyìn
Tax which is levied on goods manufactured, sold or used within a country is?
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Ibeere 34 Ìròyìn
Which of the following is NOT among the canons of taxation as set out by Adam Smith?
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Ibeere 35 Ìròyìn
The interdependence between households and business enterprises illustrated in the figure is known as
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Ibeere 37 Ìròyìn
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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Ibeere 39 Ìròyìn
The process by which a country attempts to reduce the import of manufactured goods at home is described as?
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Ibeere 42 Ìròyìn
Which of the following is a necessary prerequisite for trade by barter?
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Ibeere 44 Ìròyìn
Study the figure above. At paint H the price elasticity of supply is
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Ibeere 45 Ìròyìn
The inefficient distribution of scarce commodities in Nigeria is mostly due to the?
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Ibeere 46 Ìròyìn
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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Ibeere 49 Ìròyìn
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.
