JAMB UTME - Economics - 1988
Pergunta 1 Relatório
When a nation is experiencing balance of payment surplus, it is in a better position to?
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Pergunta 2 Relatório
The additional revenue obtained by using one more unit of a factor is called?
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Pergunta 3 Relatório
One factor which influences the slope of a non-linear demand curve for a commodity is the?
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Pergunta 4 Relatório
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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Pergunta 5 Relatório
A commodity is said to have a derived demand when the commodity
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Pergunta 8 Relatório
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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Pergunta 9 Relatório
Restriction on credit creation by commercial banks can be effected through?
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Pergunta 10 Relatório
Which of the following occurs in the circular flow of economic activities with no leakages
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Pergunta 11 Relatório
Collectivism refers to the system of management of state enterprises in a?
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Pergunta 12 Relatório
The output at which total revenue equals total cost is known as?
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Pergunta 13 Relatório
Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means that Ufuoma is
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Pergunta 16 Relatório
Development outside a given firm which reduce the firm costs are called?
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Pergunta 17 Relatório
The most threatening problem for the less developed countries is?
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Pergunta 18 Relatório
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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Pergunta 19 Relatório
If in this demand-supply diagram, the quantity supplied is OQ, then
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Pergunta 20 Relatório
The most important limitation on the partner as a form of business enterprise is the?
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Pergunta 22 Relatório
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.
Pergunta 24 Relatório
Which of the following BEST describes the production function?
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Pergunta 25 Relatório
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
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Pergunta 27 Relatório
Air is essential to life but commands no price!
Diamond is not essential to life but commands a high?
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Pergunta 31 Relatório
In estimating the national income of a country, the three approaches usually adopted are the?
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Pergunta 32 Relatório
In a public company, enterpreneurial functions are performed by the?
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Pergunta 34 Relatório
Which of the following would most likely be considered an example of benefit taxation?
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Pergunta 35 Relatório
Which of the following is a good example of invisible item on balance of payments account?
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Pergunta 36 Relatório
Merchants banks perform all the following functions EXCEPT?
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Pergunta 37 Relatório
If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?
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Pergunta 38 Relatório
The average product of labour in a given period is obtained by dividing the?
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Pergunta 40 Relatório
The Malthusian theory of population predicts that growth in food production will?
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Pergunta 41 Relatório
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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Pergunta 43 Relatório
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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Pergunta 48 Relatório
Deficit financing is mostly facilitated by the existence of?
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Pergunta 49 Relatório
The group of unemployed members of a community who are physically handicapped or disabled, is generally classified under unemployment as?
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Pergunta 50 Relatório
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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