JAMB UTME - Economics - 1979

Which of the following assets of the commercial bank does not yield revenue?

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Division of labour means

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opportunity cost is the

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Which of these is not usually the function of a wholesaler?

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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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Which of the following is not a direct tax?

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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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The proportion of currency in the money supply

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When marginal cost equals marginal revenue of products

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The value of money is generally measured in reference to

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The burden of tax on a commodity whose demand is infinitely inelastic

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Inflation can be curbed by

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The quantity supplied of a commodity increases while

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An ad valorem tax means

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Which of the following is not an asset of a commercial bank?

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Infant industries are

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Study the table above: What is the marginal product of the second worker?

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Which of the following is not an indirect tax?

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Which of the following type of capital is not rewarded by means of dividends?

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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

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The pre-dominance of non-working housewives and maids in West Africa

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Production covers all but one of the following activities:

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In most cases the marginal utility derived from a particular good

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A typical corporate form of business organization is owned by

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The central bank controls the activities of other banks by all but one of the following

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Pure monopoly describes market where

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The foreign exchange rate of a country is

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Which of the following is not true of the theory of optimum population?

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When the average physical product curve is rising the marginal physical product is

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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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Average cost is

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The lowering of the exchange rate between country's currency and other currencies is known as

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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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The country will be over populated when

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which of the financial institutions cannot direct tax loans to individuals?

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By utility we mean

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which of these alternative is wrong? central banks are

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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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One of the reason why the condition of supply of a commodity may change is

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The 'terms of trade' means

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The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions

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Net national income is

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Which is the most liquid of the following financial assets held by an individual?

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Disposable income equals

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which of the following is not true about occupational distribution of the labour force of West Africa?

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Which of the following is not a component of national income at factor cost?

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If a government is running deficit, this means

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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

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The price mechanism

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The quantity supplied of a commodity increases best when

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