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Economics Past Questions

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4,545 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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4,545 questions

Question 1 of 20 4,545 total questions

Question 2161

jamb 1982

Monetary policy does NOT involve

Aincreasing the import duties

Bbuying or selling treasury bills by the Central Bank

Cprinting of more currency note

Dincreasing or decreasing cash reserve ratio by the Central Bank

Eraising the level of interest

View Explanation & Discuss

Question 2162

jamb 1982

Function of commercial banks do NOT include?

Alending with interest charges

Bcarrying out transactions on behalf of customers

Cexpansion of money supply

Dkeeping of security document s for customers

Eprinting of currency

View Explanation & Discuss

Question 2163

jamb 1982

The chief sources of Federal Government revenue in Nigeria are?

Aimport duties, petroleum, import tax, profit tax, royalties and government dividends

Bpersonal income tax, excise tax and vehicle licenses

Cexport duties, personal income tax and royalties

Dproperty income, sales tax and excise tax

Eimport duties, sales tax and poll tax

View Explanation & Discuss

Question 2164

jamb 1982

The purpose of import duties does NOT include the?

Ageneration of revenue for government

Bprotection of domestic industries

Cpromotion of international trade

Dconservation of foreign exchange earnings

Econtrol of comsuption pattern

View Explanation & Discuss

Question 2165

jamb 1982

Retailers are greater in numbers than wholesalers because?

Aretail business may not be registered or incorporated

Bretail business requires less expertise

Cretailers deal with final consumers

Dall retail businesses are large enterprises

Eall retail businesses are small enterprises

View Explanation & Discuss

Question 2166

jamb 1982

Population growth can be calculated as ?

ABirth rate + death rate + migration rate + immigration rate

BBirth rate – death rate + migration rate -immigration rate

CBirth rate + death rate – migration rate + immigration rate

DBirth rate – death rate – emigration rate + immigration rate

EBirth rate – death rate

View Explanation & Discuss

Question 2167

jamb 1982

if AC = Average Cost of production ,

TC = Total Cost of production

VC = Variable Cost of production

FC = Fixed Cost of production

Q = Quantity of goods produced

Then,

AAC = TC; TC = VC + FC

BAC = \(\frac{(TC)}{Q}\): TC = VC + FC

CAC = TC; TC = (VC)(FC) Q

DAC = TC- FC: VC = TC- AC

EAC = TC ; TC = VC + AC Q

View Explanation & Discuss

Question 2168

jamb 1982

The sloping downward of the demand curve implies that?

Aan increase in price leads to an increase in quantity demanded

Ban increase in price leaves the quantity demanded unchanged

Ca decrease in price leads to a decreased in quantity demanded

Da decrease in price leads to an increase in quantity demanded

Esupplies respond by offering less commodities for sale

View Explanation & Discuss

Question 2169

jamb 1982

The equilibrium market price is determined at a point where?

Aconsumers can buy all they desire

Bsellers can dispose of all their wares

Cthe price is moderate

Dquantity consumers desires equal quantity sellers offer

Esellers and buyers are not quarrelling

View Explanation & Discuss

Question 2170

jamb 1982

some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?

Adevelopment projects

Binfrastructural facilities

Cmonoculture

Dcapital investment

Esuperstructure

View Explanation & Discuss

Question 2171

jamb 1982

Taxes which are levied on a person’s expenditures are known as?

APurchase tax

BSales tax

CDirect tax

DPoll tax

EIncome tax

View Explanation & Discuss

Question 2172

jamb 1982

The main economic goal of ECOWAS is the attainment of ?

Aregional free trade

BMultilateral trade

Cbilateral trade

Deconomic self-reliance

EThe economic emancipation of Africa

View Explanation & Discuss

Question 2173

jamb 1982

The difference between visible exports and invisible exports of a country, in money terms, is known as the?

ABalance of trade

BBalance of payments

CTerms of trade

DForeign reserves

ESpecial drawing right

View Explanation & Discuss

Question 2174

jamb 1982

Which one of the following functions of banks in Nigeria is reserved to the Central Bank?

AAccepting deposits

BServing as agents for payments

CIssuing bank-notes

DLending to customers

EPurchasing and selling of stock exchange securities

View Explanation & Discuss

Question 2175

jamb 1982

The National Electric Power Authority (NEPA) is a?

APublic limited company

BPublic liability company

CPrivate authority

DPublic corporation

EFederal government authority

View Explanation & Discuss

Question 2176

jamb 1982

Who controls a limited liability company ?

AThe general manager

BThe managing director

CThe owner of 51% of shares

DThe board of directors

EThe government

View Explanation & Discuss

Question 2177

jamb 1982

A firm whose cost of production decrease as it continues to increase its output is said to be enjoying?

Aprofit maximization

Blarge-scale production

Ca wind fall

Dgovernment subsidies

Eeconomies of scale

View Explanation & Discuss

Question 2178

jamb 1982

Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?

Adebentures

Bpreference shares

Cordinary shares

Dparticipating preference shares

Eold shares

View Explanation & Discuss

Question 2179

jamb 1982

The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?

Athere is a Government ban on the importation of beer

Bbeer distributors want more profit

CNigeria is a large country

Dmiddlemen hoard beer

Ethe demand for beer exceeds the supply

View Explanation & Discuss

Question 2180

jamb 1982

The supply of and demand for goods and services are influenced by the?

Asupermarkets

Bentrepreneurs

Cmechanism of the law

Dmechanism of equilibrium

Eprice mechanism

View Explanation & Discuss

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