JAMB UTME - Economics - 1979
Tambaya 1 Rahoto
The lowering of the exchange rate between country's currency and other currencies is known as
Bayanin Amsa
Tambaya 2 Rahoto
When the price of a commodity is below the equilibrium price the quantity demanded will exceed the quantity supplied. Such a situation is referred to as
Bayanin Amsa
Tambaya 3 Rahoto
If the quantity demanded of a commodity increases from 20 to 30 when there is an increase in price from N4 to N5, the elasticity of demand is
Tambaya 5 Rahoto
If two commodities are good substitutes for one another, e.g butter and margarine,an increase in the demand for one will reduce the demand for the other. This type of demand is called
Bayanin Amsa
Tambaya 6 Rahoto
Which of the following is not a component of national income at factor cost?
Bayanin Amsa
Tambaya 13 Rahoto
One of the reason why the condition of supply of a commodity may change is
Bayanin Amsa
Tambaya 14 Rahoto
which of the following is not true about occupational distribution of the labour force of West Africa?
Bayanin Amsa
Tambaya 18 Rahoto
The pre-dominance of non-working housewives and maids in West Africa
Tambaya 21 Rahoto
Which of the following type of capital is not rewarded by means of dividends?
Bayanin Amsa
Tambaya 22 Rahoto
which of these alternative is wrong? central banks are
Tambaya 24 Rahoto
The quantity supplied of a commodity increases best when
Tambaya 26 Rahoto
The central bank controls the activities of other banks by all but one of the following
Bayanin Amsa
Tambaya 28 Rahoto
When the average physical product curve is rising the marginal physical product is
Bayanin Amsa
Tambaya 30 Rahoto
Which of the following assets of the commercial bank does not yield revenue?
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Tambaya 33 Rahoto
Which is the most liquid of the following financial assets held by an individual?
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Tambaya 38 Rahoto
The total value of goods and services sold and bought in a country across its border during a given period, usually a year is known as
Tambaya 39 Rahoto
Which of the following is not true of the theory of optimum population?
Bayanin Amsa
Tambaya 41 Rahoto
If Mr A earns N2,000 a year while Mr B earns N8,000 but Mr a pays N200 in tax per annum while Mr B pays N400, such a tax is
Bayanin Amsa
Tambaya 42 Rahoto
| Number of Workers | Total Products |
| 1 | 10 |
| 2 | 28 |
| 3 | 48 |
| 4 | 72 |
| 5 | 80 |
Study the table above: What is the marginal product of the second worker?
Bayanin Amsa
Tambaya 44 Rahoto
The burden of tax on a commodity whose demand is infinitely inelastic
Bayanin Amsa
Tambaya 46 Rahoto
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
Bayanin Amsa
Tambaya 48 Rahoto
What do we call a market where there is large number of buyers and sellers, such that no one has an appreciable influence over prices?
Bayanin Amsa
Tambaya 50 Rahoto
when the demand curve shift to the right it indicate that a larger quantity is demanded at each price. This is caused by one of the following
Bayanin Amsa
