JAMB UTME - Economics - 1988
Tambaya 1 Rahoto
Collectivism refers to the system of management of state enterprises in a?
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Tambaya 4 Rahoto
The average product of labour in a given period is obtained by dividing the?
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Tambaya 5 Rahoto
Air is essential to life but commands no price!
Diamond is not essential to life but commands a high?
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Tambaya 6 Rahoto
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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Tambaya 8 Rahoto
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.
Tambaya 12 Rahoto
Restriction on credit creation by commercial banks can be effected through?
Tambaya 13 Rahoto
In estimating the national income of a country, the three approaches usually adopted are the?
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Tambaya 15 Rahoto
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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Tambaya 17 Rahoto
Which of the following is a good example of invisible item on balance of payments account?
Tambaya 18 Rahoto
When a nation is experiencing balance of payment surplus, it is in a better position to?
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Tambaya 22 Rahoto
The group of unemployed members of a community who are physically handicapped or disabled, is generally classified under unemployment as?
Tambaya 24 Rahoto
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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Tambaya 25 Rahoto
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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Tambaya 28 Rahoto
The most important limitation on the partner as a form of business enterprise is the?
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Tambaya 32 Rahoto
If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?
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Tambaya 34 Rahoto
One factor which influences the slope of a non-linear demand curve for a commodity is the?
Tambaya 38 Rahoto
Which of the following would most likely be considered an example of benefit taxation?
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Tambaya 40 Rahoto
Price leadership is?
Tambaya 41 Rahoto
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
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Tambaya 43 Rahoto
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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Tambaya 44 Rahoto
Development outside a given firm which reduce the firm costs are called?
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Tambaya 49 Rahoto
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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Tambaya 50 Rahoto
The additional revenue obtained by using one more unit of a factor is called?
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