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In the diagram above, RTX and STY are the marginal cost and the average cost curves responsively of a perfectly competitive firm. The supply curve of the firm is indicated by
ATX
BRT
CST
DTY
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Question 22
jamb1990
THE RELATIONSHIP BETWEEN TAX RATE AND INCOME WHICH IS RELEVANT TO A PROPORTIONAL TAX IS DEPICTED BY
ACURVES Z AND Y
BCURVE X
CCURVE Z
DCURVE Y
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Question 23
jamb1990
The relationship between tax rate and income which is relevant to a progressive tax is shown by
Acurve X
BcurveY
Ccurve Z
Dcurve X and Z
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Question 24
jamb1990
The lower half of the diagram indicates
Athe flow of goods and services
Bpayments for goods and services
Cthe flow of income
Dgovernment transactions
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Question 25
jamb1990
The flow labelled Y refers to
Areal income
Bfactor payment
Cfactor input
Dnational income
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Question 26
jamb1990
Agriculture is central to Nigeria''s economic development because?
ANigeria''s comparative advantage lies mainly in agro-allied industries
Bagriculture is the largest employer of labour
Cagriculture accounts for an insignificant domestic product
DNigeria earns limitless foreign exchange from agriculture
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Question 27
jamb1990
The most common index used for measuring development is?
Athe level of literacy
Bper capita income
Cnutritional levels
Dpopulation growth rate
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Question 28
jamb1990
Social overhead capital refers to?
Abalanced growth
Bgross investment
Cthe building of infrastructures
Dcapital formation
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Question 29
jamb1990
in equilibrium, injections are equal to?
Awithdrawals
Bsurplus of imports over exports
Cgovernment spending
Dwages
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Question 30
jamb1990
Disposable income is an income which?
Ais available for consumption and savings
Bpensioners receive from the government
Cis payable to the disable members of the community
Daccures to the environmental sanitation authorites for refuse disposal
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Question 31
jamb1990
The system of measurement of national income as the sum of all final demands is called?
Aincome approach
Bexpenditure approach
Cvalue-added
Dfinal demands approach
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Question 32
jamb1990
If the government invest the sum of N1,000,000.00 and the marginal propensity to consume is 0.75, what is the change in income?
AN1,000 000.00
BN4,000 000.00
CN6,000 000.00
DN14,000,000.00
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Question 33
jamb1990
If birth rate is constant and death rate declines, population?
Afalls
Bexpands
Cstabilizes
Doscilates
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Question 34
jamb1990
Which of the following is likely to hinder labour mobility in Nigeria?
AHigher wages elsewhere
BCultural similarities
CGood accommodation elsewhere
DIgnorance of job opportunities elsewhere
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Question 35
jamb1990
Import duties will increase total expenditure on imports if the demand for imports is?
Aelastic
Binelastic
Cinfinitely elastic
Dderived
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Question 36
jamb1990
Which of the following is a tariff?
ALimit on the amount of goods which can be imported
BInteest rate on foreign loans
CGovernment payment to domestic producers for exports
DTax on imported goods
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Question 37
jamb1990
Which of the following is likely to reduce a surplus in the balance of payments of a country?
ADevaluation
BIncreased tariff on imports
CExport promotion
DCurrency appreciation
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Question 38
jamb1990
Balance of trade is the difference between?
Aexports and imports of goods and services
Bcapital inflows and capital outflows
Cvisible and invisible balances
Dexports and imports of goods
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Question 39
jamb1990
Under a system of freely floating exchange rates an increase in the international value of a country's currency will cause?
Aits exports to rise
Bits imports to rise
Cgold to flow into that country
Dits currency to be in surplus
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Question 40
jamb1990
A tax on a commodity whose supply is perfectly inelastic is?
Ashifted completely on the consumer
Bcompletely borne by the supplier
Cdividend in the ratio 60;40 between the consumer and the supplier
Ddivided half-and-half between the producer and the consumer
