JAMB UTME - Economics - 1978
Question 1 Rapport
Which of the following financial assets consist the lowest rate of interest in Nigeria?
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Question 2 Rapport
If the demand of a product with perfectly elastic supply increases, there will be
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Question 3 Rapport
Less developed countries obtain foreign exchange reserve mainly from the export of
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Question 4 Rapport
The following is NOT a reason for the existence of small firms
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Question 5 Rapport
Which of the following can be regarded as a liability of a commercial bank?
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Question 6 Rapport
An increase in liquid reserve requirements by the central bank of Nigeria will result in
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Question 8 Rapport
Which is NOT a direct effort to increase Agricultural production in Nigeria?
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Question 9 Rapport
If a company doubles all its inputs and discovers that its output is more than doubles, we can say that the company is experiencing
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Question 12 Rapport
Which of the following activities of government precludes the existence of a market economy?
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Question 13 Rapport
Which is an example of an invisible item in the trade Account of Ghana?
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Question 16 Rapport
Which of the following is a term used to describe a payment representing a surplus in excess of transfer costs?
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Question 17 Rapport
Which of the following sector of the economy is estimated to be the largest employer of labour in the country
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Question 18 Rapport
Suppose that the equilibrium price of an article is N5.00 but the government fixes the price by law at N4.00, the supply will be
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Question 19 Rapport
Which of the following is not a form of business organization
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Question 22 Rapport
Bondholders are treated more favorably than shareholders because
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Question 24 Rapport
The effect of the demand for product A caused by a change in the price of a product B is called?
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Question 25 Rapport
A distinguishing characteristics of a consumers' cooperative is the fact that
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Question 26 Rapport
Which of the following is NOT strictly included In the study of economics?
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Question 27 Rapport
A rational consumer will adjust his spending pattern so that
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Question 30 Rapport
The largest liability appearing in the book of a commercial bank is
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Question 31 Rapport
Which of these should determine, in a planned economy how the factor of production are to be allocated among different production activities
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Question 32 Rapport
If the consumer demand for product X increases as the price of product Y decreases we can be fairly certain that X
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Question 33 Rapport
Which of these would not be included in the fundamental principle of a free enterprise economy
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Question 36 Rapport
As consumption of beer increases, its marginal utility to a drinker will
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Question 38 Rapport
A Tax which takes a higher percentage from higher incomes is called?
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Question 40 Rapport
Malthus became famous through his theory which may be stated simply
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Question 44 Rapport
Which of the following item in the balance of payment of account is an invisible transaction?
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Question 46 Rapport
A country has a surplus in its balance of visible trade if
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Question 47 Rapport
In order to build up its capital stock, the typical less developed country should ideally
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Question 50 Rapport
A commercial bank is unique in that it is only the institution that
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