JAMB UTME - Economics - 1984

The diagram illustrates

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

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

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

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

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A demand curve slopes downwards because of ?

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

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The most important characteristic of money is?

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

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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Division of labour is limited by?

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

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

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Cost push inflation takes place due to?

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An imperfectly competitive market is one where?

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

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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 is NOT a determinant of the size economically active population?

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

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

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

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In taxation, the benefit principle requires that?

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

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

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An improvement in Nigeria's terms of trade should

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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.

The Central Bank instrument of control does NOT include

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The channel for food distribution in Nigeria consist of?

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

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The economic goal of public utilities is to?

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

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

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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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Generally, property taxes?

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

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

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

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

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

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One disadvantage of sole proprietorship is its?

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