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DNigeria should not produce any of the products because of her relative disadvantages
EAustria should produce lace and Nigeria should produce cocoa
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Question 1108
jamb1984
Question 39 and 40 are based on the table below:
The international production set for Nigeria and Austria is:
\(\begin{array}{c|c}
Products & Nigeria & Austria \\
\hline
Cocoa & 20 \text{tonnes} & 12 \text{tonnes}\\
\hline
Lace & 10 \text{meters} & 8 \text{meters} \\
\end{array}\)
The opportunity cost ratio for cocoa and lace for Austria and Nigeria is
A2,2
B2,1.5
C1.5,4
D1.5,2
E0.5,1.5
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Question 1109
jamb1984
Public expenditure on services, such as education and health, is known as expenditure on
Ageneral services
Bcommunity services
Csocial services
Deconomic services
Eadministrative services
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Question 1110
jamb1984
One of the major effects of an increase in government expenditure on a nation’s economy is that it?
Acreates investment opportunities for foreign investors
Bleads to indigenization of the private sector
Craises the level of total tax revenue
Draises the level of aggregate demand
Econtrols the spread of monopoly
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Question 1111
jamb1984
Generally, property taxes?
Aare borne entirely by landlords
Bcannot be shifted in the long run
Care borne by all (renter, owner occupiers and landlords)
Dare borne only by renters
Eare borne by a few industrialist
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Question 1112
jamb1984
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?
Aspeculative motive
Bprecautionary motive
Ctransactions motive
Dinvestment motives
Erainy day motive
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Question 1113
jamb1984
Cost push inflation takes place due to?
Athe rapid increase in the demand for goods
Ban increase in productivity of the factors of production
Ca rise in the cost of production
Da rise in the standard of living
Ethe low wage rate of the workers
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Question 1114
jamb1984
The Central Bank instrument of control does NOT include
Aopen market operation
Bmoral sanctions
Creverse requirements
Dselective credit control
Eprinting bank-notes
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Question 1115
jamb1984
The most important characteristic of money is?
Aportability
Bintrisic value
Cacceptability
Dusefulness
Ebeauty
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Question 1116
jamb1984
The most important factor determining the location of the cement industry in Nigeria today is ?
Acapital and government policy
Bthe nature of the product, infrastructure and government policy
Cnearness to the market and source of power
DPrice of the product and source of labour
Eraw materials
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Question 1117
jamb1984
The basic principles of co-operative societies are those of?
Aactive participation of capitalist in the affairs of co-operative societies
Bworker ownership and worker control
Csole proprietorship
Dpartnership
Edenying of credit facilities to members
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Question 1118
jamb1984
The economic goal of public utilities is to?
Amaximize profit
Bexpand assets
Cminimize costs
Dprovide essential services
Epay higher dividends to shareholders
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Question 1119
jamb1984
Which of the following is NOT true of debentures and debenture holders?
ADebentures are instruments for rising long-term capital by limited liability companies
BDebenture are fixed interest-bearing securities with specified maturity dates
CDebentures holders are creditors to the company and therefore do not share in the risk of the company
DDebenture holders are entitled to interest payments whether or not profits are made
EPreference shareholders recieve their share of profits before debenture holders receive their entitlements
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Question 1120
jamb1984
The channel for food distribution in Nigeria consist of?
