Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?
AProf. Paul Samuelson
BAdam Smith
CDavid Ricardo
DRev. Thomas Malthus
EProf. Ojetuuji Aboyade
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Question 1095
jamb1985
The age distribution of a population is NOT influenced by?
Abrith rates
Bdeath rates
Cpatterns of immigration
Dpatterns of emmigration
Eschool leaving age
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Question 1096
jamb1985
Optimum population is desirable because it enables an economy to obtain maximum?
Aper capita income
Bper capital output
Cper capita real income
Dper capital revenue
Egrowth rate
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Question 1097
jamb1985
The meaning of scale of preference is?
Apreparing a list of goods and services to be purchased in order of priority
Bshowing the monthly income
Cbudget preparation without due regard to proper proirities
Dconsumers' preference for luxury goods
Econsumers preference for foreugn goods
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Question 1098
jamb1985
An economic problem exists whenever
Athere is scacity and choice
Bthere are no buyers for our goods
Cthere are too many sellers
Dmany people are out of work
Eall raw materials are imported
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Question 1099
jamb1985
Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?
Acost of the bok
Bcost of the hat
Cbook
Dhat
EN10.00
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Question 1100
jamb1985
One main quality of a good is that it
Ais sold in the market
Bsatisfies wants
Cis made in the factory
Dis always tangible
Eis non-perishable
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Question 1101
jamb1984
In the diagram III refers to the calculation of national income through the
AIncome approach
BGovernment earnings approach
CExpenditure approach
DOutput approach
EFlow of funds approach
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Question 1102
jamb1984
In the diagram I refers to the calculation of national income through the
AExpenditure approach
BInput - Output approach
CFlows of funds approach
DIncome approach
EOutput approach
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Question 1103
jamb1984
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
A\(\frac{Px}{Pm}\)
B\(\frac{Px}{Pm}\)=1
C\(\frac{Px}{Pm}\)>1
D\(\frac{Px}{Pm}\)+1
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Question 1104
jamb1984
A rightward shift in the production possibility frontier may be due to
AUse of inferior inputs
BInefficiency
CImprovement in production techniques and practices
DChanges in the product mix
EChanges in consumer's tastes and preferences
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Question 1105
jamb1984
One of the advantages of large - scale production is that
AThere is a rise in the cost of administration
BConsumers sacrifice their individual tastes
CThe firm can use labour - saving machinery
DThe demand for a firm's products become localized
EDecision making takes a long time because different levels of management are involved
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Question 1106
jamb1984
If a person demands money for buying and selling securities. It is referred as demanding money for
ATransaction purposes
BSpeculative purposes
CPrecautionary purposes
DMeeting the educational expenses of the children
ECarrying out gambling activities
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Question 1107
jamb1984
An improvement in Nigeria's terms of trade should
ALead to a fall in cost of her imports in terms of what she must sacrifice to obtain them
BMake made in Nigeria goods cheaper to buy
CIncrease Nigeria's domestic output of commodities
DLead to an increase in her exchange rates
ELead to an increase in Nigeria's exports of petroleum
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Question 1108
jamb1984
Given the present state of the Nigerian economy, which of the following measures will promote a more rapid economic development?
AComplete dependence on oil exports
BConcentration on agricultural exports
CDiversification of the economy
DBuilding of more schools and universities
EIntroduction of nuclear energy in Nigeria
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Question 1109
jamb1984
The diagram illustrates
Athe circular flow of income
Bgross national product plus depreciation
Cincomes of the private sector
Dthe profit of business enterprises
Ethe output approach to national income determination
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Question 1110
jamb1984
The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?
