JAMB UTME - Economics - 1988
Pregunta 2 Informe
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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Pregunta 4 Informe
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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Pregunta 5 Informe
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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Pregunta 6 Informe
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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Pregunta 7 Informe
The average product of labour in a given period is obtained by dividing the?
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Pregunta 8 Informe
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.
Pregunta 10 Informe
The Malthusian theory of population predicts that growth in food production will?
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Pregunta 11 Informe
The most important limitation on the partner as a form of business enterprise is the?
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Pregunta 12 Informe
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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Pregunta 13 Informe
In a public company, enterpreneurial functions are performed by the?
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Pregunta 14 Informe
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
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Pregunta 15 Informe
If technology becomes less capital-intensive, it means?
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Pregunta 17 Informe
Collectivism refers to the system of management of state enterprises in a?
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Pregunta 19 Informe
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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Pregunta 20 Informe
Merchants banks perform all the following functions EXCEPT?
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Pregunta 21 Informe
Which of the following BEST describes the production function?
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Pregunta 22 Informe
The group of unemployed members of a community who are physically handicapped or disabled, is generally classified under unemployment as?
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Pregunta 23 Informe
Development outside a given firm which reduce the firm costs are called?
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Pregunta 24 Informe
The output at which total revenue equals total cost is known as?
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Pregunta 27 Informe
Air is essential to life but commands no price!
Diamond is not essential to life but commands a high?
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Pregunta 30 Informe
In estimating the national income of a country, the three approaches usually adopted are the?
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Pregunta 31 Informe
A commodity is said to have a derived demand when the commodity
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Pregunta 33 Informe
One factor which influences the slope of a non-linear demand curve for a commodity is the?
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Pregunta 34 Informe
If in this demand-supply diagram, the quantity supplied is OQ, then
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Pregunta 35 Informe
The additional revenue obtained by using one more unit of a factor is called?
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Pregunta 36 Informe
Restriction on credit creation by commercial banks can be effected through?
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Pregunta 39 Informe
Which of the following would most likely be considered an example of benefit taxation?
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Pregunta 40 Informe
Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means that Ufuoma is
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Pregunta 43 Informe
Deficit financing is mostly facilitated by the existence of?
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Pregunta 44 Informe
Which of the following is a good example of invisible item on balance of payments account?
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Pregunta 45 Informe
If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?
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Pregunta 46 Informe
Which of the following occurs in the circular flow of economic activities with no leakages
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Pregunta 47 Informe
The most threatening problem for the less developed countries is?
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Pregunta 48 Informe
When a nation is experiencing balance of payment surplus, it is in a better position to?
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Pregunta 49 Informe
An increase in an economy's productive capacity implies?
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