JAMB UTME - Economics - 1979

The value of money is generally measured in reference to

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

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

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When marginal cost equals marginal revenue of products

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In most cases the marginal utility derived from a particular good

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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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By utility we mean

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

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The 'terms of trade' means

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An ad valorem tax means

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The quantity supplied of a commodity increases while

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

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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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Net national income is

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Pure monopoly describes market where

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Average cost is

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Inflation can be curbed by

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

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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 price mechanism

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Disposable income equals

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If a government is running deficit, this means

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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 assets of the commercial bank does not yield revenue?

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

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A typical corporate form of business organization is owned by

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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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opportunity cost is the

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Which of the following is not an indirect tax?

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

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

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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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The proportion of currency in the money supply

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The country will be over populated when

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Which of the following is not a direct tax?

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which of these alternative is wrong? central banks are

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

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The foreign exchange rate of a country is

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Division of labour means

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One of the reason why the condition of supply of a commodity may change 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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Production covers all but one of the following activities:

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

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The quantity supplied of a commodity increases best when

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Infant industries are

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

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

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