JAMB UTME - Economics - 1984

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 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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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 economic goal of public utilities is to?

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One disadvantage of sole proprietorship is its?

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In taxation, the benefit principle requires that?

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

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The channel for food distribution in Nigeria consist of?

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Generally, property taxes?

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A demand curve slopes downwards because of ?

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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, the supply curve So So shifts to a new position S₁ S₁ to indicate

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

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The most important characteristic of money is?

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

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The diagram illustrates

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

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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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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.

Which of the following does NOT represent the behavior of a monopolist?

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

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

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

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An imperfectly competitive market is one where?

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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 Central Bank instrument of control does NOT include

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An improvement in Nigeria's terms of trade should

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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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Division of labour is limited by?

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Which of the following is NOT a determinant of the size economically active population?

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

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

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

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

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

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

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

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

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Cost push inflation takes place due to?

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

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

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

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