JAMB UTME - Economics - 1988
Ibeere 1 Ìròyìn
If in this demand-supply diagram, the quantity supplied is OQ, then
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Ibeere 2 Ìròyìn
The average product of labour in a given period is obtained by dividing the?
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Ibeere 5 Ìròyìn
When a nation is experiencing balance of payment surplus, it is in a better position to?
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Ibeere 7 Ìròyìn
Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?
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Ibeere 8 Ìròyìn
Which of the following is a good example of invisible item on balance of payments account?
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Ibeere 9 Ìròyìn
One factor which influences the slope of a non-linear demand curve for a commodity is the?
Ibeere 12 Ìròyìn
Which of the following is TRUE at the quantity of output where Average Cost (AC) per unit has reached its minimum level?
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Ibeere 14 Ìròyìn
A textile firm operates a plant in the North (where capital expensive relative to labour)as well as a plant in the South (where labour is expensive relative to capital ). In this diagram above the Southern plant will minimize cost by combining labour and capital in the amounts indicated by
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Ibeere 16 Ìròyìn
The group of unemployed members of a community who are physically handicapped or disabled, is generally classified under unemployment as?
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Ibeere 17 Ìròyìn
If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?
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Ibeere 18 Ìròyìn
Restriction on credit creation by commercial banks can be effected through?
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Ibeere 20 Ìròyìn
In a public company, enterpreneurial functions are performed by the?
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Ibeere 21 Ìròyìn
Which of the following factors enhances the ability of commercial banks to create money?
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Reserve ratio is one of instrument that central bank use to control the activities of commercial banks across the nation. So, a reduction in this reserve ratio will make commercial banks to lend more to the public which in turn yield more interest for them.
Ibeere 26 Ìròyìn
Under partnership, investors who have no desires to be actively involved in the day-to-day management of such organization, are called?
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Ibeere 29 Ìròyìn
The most threatening problem for the less developed countries is?
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Ibeere 30 Ìròyìn
Which of the following would most likely be considered an example of benefit taxation?
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Ibeere 31 Ìròyìn
Air is essential to life but commands no price!
Diamond is not essential to life but commands a high?
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Ibeere 32 Ìròyìn
The most important limitation on the partner as a form of business enterprise is the?
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Ibeere 35 Ìròyìn
In estimating the national income of a country, the three approaches usually adopted are the?
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Ibeere 37 Ìròyìn
If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?
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Ibeere 38 Ìròyìn
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
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Ibeere 44 Ìròyìn
The additional revenue obtained by using one more unit of a factor is called?
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Ibeere 46 Ìròyìn
Collectivism refers to the system of management of state enterprises in a?
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Ibeere 48 Ìròyìn
Development outside a given firm which reduce the firm costs are called?
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Ibeere 49 Ìròyìn
The demand and supply equations for a commodity are given respectively as D = 20 - 1/2P; S = 8 + 1/4P. Recalling that at equilibrium, D = S, the equilibrium (P) and quantity (Q) can be obtained as
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