JAMB UTME - Economics - 1984

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

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

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

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

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An imperfectly competitive market is one where?

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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

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

An improvement in Nigeria's terms of trade should

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

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The Central Bank instrument of control does NOT include

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

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

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

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

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

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

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A demand curve slopes downwards because of ?

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

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The most important characteristic of money is?

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

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The channel for food distribution in Nigeria consist of?

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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?

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

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

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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?

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One disadvantage of sole proprietorship is its?

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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?

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

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The diagram illustrates

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Cost push inflation takes place due to?

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

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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?

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

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The economic goal of public utilities is to?

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

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

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

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

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

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

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Generally, property taxes?

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Division of labour is limited by?

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

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One of the advantages of large - scale production is that

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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 does NOT represent the behavior of a monopolist?

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

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

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

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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

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In taxation, the benefit principle requires that?

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

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