JAMB UTME - Economics - 1979

which of these alternative is wrong? central banks are

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

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The 'terms of trade' means

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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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Disposable income equals

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

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Which of the following is not an indirect tax?

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

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By utility we mean

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

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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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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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Net national income is

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Division of labour means

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In most cases the marginal utility derived from a particular good

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Inflation can be curbed by

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The foreign exchange rate of a country is

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The country will be over populated when

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Infant industries are

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Average cost is

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

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If a government is running deficit, this means

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Production covers all but one of the following activities:

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opportunity cost is the

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

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An ad valorem tax means

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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 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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Pure monopoly describes market where

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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 true about occupational distribution of the labour force of West Africa?

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

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A typical corporate form of business organization is owned by

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

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The quantity supplied of a commodity increases best when

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Which of the following is not a direct tax?

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The quantity supplied of a commodity increases while

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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 component of national income at factor cost?

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

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

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The price mechanism

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The proportion of currency in the money supply

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

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

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

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The value of money is generally measured in reference to

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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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When marginal cost equals marginal revenue of products

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