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.
The effect of emigration on a country's population, all other things remaining equal, is to
Aincrease its size
Bcause overpopulation
Cincrease its growth rate
Dreduce the proportion of children
Ereduce its size
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Question 2132
jamb1983
The monetary system that requires double coincidence of want is known as?
Athe gold standard
Bbarter
Cthe commodity system
Dthe gold exchange standard
Ethe cheque system
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Question 2133
jamb1983
Which of the following is NOT an advantage of localization of industries?
AReaping of external economies
BDevelopment of a pool or skilled labour for industry
CDevelopment of subsidiary industries
DDevelopment of organized markets
EGrowth of conurbations
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Question 2134
jamb1983
When a government owns enterprises, a number of advantage arise. Which of the following is NOT one of such advantages?
AMore capital is provided
BPrice policy may be the interest of consumers
CGovernment workers may be indifferents towards the public
DInfrasturcture are rapidly developed
Eincome may be more evenly distributed
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Question 2135
jamb1983
A major function of middlemen in Nigeria is the distribution of?
Acommodities to all consumers regardless of income
Bcommodities to consuming centres and the collection of money income to producing centres
Ceconomic welfare to all
Dwealth to all
Epoverty within the society
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Question 2136
jamb1983
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
Aland and related factors
Babundance of natural resources
Clevel of human capital
Dtechnical progress or other factors
Ethe discipline of political leadership
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Question 2137
jamb1983
The quickest way of achieving an economic union on regional basis is to remove all?
Acurrency barriers
Blanguage barriers
Cpolitcal barriers
Dcustoms barriers
Elegal barriers
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Question 2138
jamb1983
Mono production economies are those that?
Ahave a rich cultural heritage
Bproduces only raw materials
Clive from the export of their raw product
Dproduce one main commodities
Especialized in agricultral industries
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Question 2139
jamb1983
International trade is necessary because?
Ano country can live in economic isolation
Bdifferent countries are differently endowed in natural and man-made resources
Csome countries have comparative costs advantage in the production of particular commodities over other countries
Dthe word demand for and supply of various categories of commodities is expanding very fast
Ecountries want to build up their foreign exchange reservers
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Question 2140
jamb1983
Petroleum 'glut' in international trade means
Aa fall in petroleum production
Ban over supply of petroleum
Ca higher petroleum price offered by the buyer
Da higher petroleum price demanded by the seller
Ehigher prices for the consumtion of petroleum
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Question 2141
jamb1983
Disequilibrium in the balance of payment means?
Aimports of the country exceeding its exports
Boverall deficit or surplus in the current account and capital account of the balance of payment
Ccapital flowing out of the country exceeds the capital flowing into the country
Ddeficit in the trade balance
Eexport earnings exceeds cost of imports
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Question 2142
jamb1983
The meaning of 'Dumping' is selling goods in a foreign market
Aat a low price that recieved in the home market
Bat a price higher than that recieved in the foreign market
Cat a price equal to the cost price in the home market
Din order to encourage indigenous producers
Eat a price equal to the selling price in the home market
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Question 2143
jamb1983
Comparative cost doctrine of international trade means specialization in production
Aaccording to absolute cost advantage
Baccording to absolute cost disadvantage
Caccording to comparative cost disadvantage
Daccording to comparative cost advantage
Eon the basis of the availability of labour
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Question 2144
jamb1983
A greater burden of the taxes on essential goods is borne by the?
Amiddle income group
Bhigher income group
Clower income group
Dpeople falling between the middle and higher income groups
Etop few richest people of the country
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Question 2145
jamb1983
In the event of a limited liability company going into liquidation each
Ashareholder may lose the maximum of the amount he has invested
Bshareholder loses nothing
Cshareholders loses everything including his house
Dshareholder''s liability becomes unlimited
Eshareholder will lose the amount he has invested plus a proportion of his bank account
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Question 2146
jamb1983
Division of labour has many advantages . Not withstanding, it is greatly limited by?
Amonotony of work
Bdecline of craftmanship
Crisk of unemployment
Dextent of market demand
Eboredom
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Question 2147
jamb1983
The supply of loanable funds is significantly influenced by?
Acommercial banks
Bmortage banks
Cfinancial intermediaries
Dthe Central Bank
Einsurance companies
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Question 2148
jamb1983
The maintenance of general economic stability in the country necessarily relies heavily on?
Afederal fiscal policy
Bcoordinated federal, state and local fiscal policies
Ctax and revenue policies of state governments
Dfederal grants to state and local government
Efederal grants to local governments
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Question 2149
jamb1983
Public expenditure creates expansionary effects in the economy when it is
Ain excess of government revenue
Bchannelled into capital products
Cdiverted into imports
Dfinanced through part of the year's total collection of taxes
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Question 2150
jamb1983
Which of the following enterprises does NOT pursue the sole objective of profit maximization?
