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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 2113
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 2114
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 2115
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 2116
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 2117
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 2118
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 2119
jamb1984
The Central Bank instrument of control does NOT include
