JAMB UTME - Economics - 1979
Vraag 1 Verslag
The burden of tax on a commodity whose demand is infinitely inelastic
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Vraag 2 Verslag
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
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Vraag 4 Verslag
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?
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Vraag 5 Verslag
The lowering of the exchange rate between country's currency and other currencies is known as
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Vraag 7 Verslag
which of the financial institutions cannot direct tax loans to individuals?
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Vraag 8 Verslag
which of these alternative is wrong? central banks are
Vraag 11 Verslag
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
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Vraag 12 Verslag
Which of the following is not a component of national income at factor cost?
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Vraag 13 Verslag
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
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Vraag 14 Verslag
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
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Vraag 18 Verslag
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
Vraag 20 Verslag
which of the following is not true about occupational distribution of the labour force of West Africa?
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Vraag 27 Verslag
Which of the following type of capital is not rewarded by means of dividends?
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Vraag 28 Verslag
Which of the following is not true of the theory of optimum population?
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Vraag 30 Verslag
Which is the most liquid of the following financial assets held by an individual?
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Vraag 32 Verslag
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
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Vraag 37 Verslag
When the average physical product curve is rising the marginal physical product is
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Vraag 40 Verslag
Which of the following assets of the commercial bank does not yield revenue?
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Vraag 41 Verslag
The quantity supplied of a commodity increases best when
Vraag 42 Verslag
| 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?
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Vraag 43 Verslag
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
Vraag 44 Verslag
The pre-dominance of non-working housewives and maids in West Africa
Vraag 45 Verslag
One of the reason why the condition of supply of a commodity may change is
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Vraag 48 Verslag
The central bank controls the activities of other banks by all but one of the following
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