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The above diagram showing the maximum possible combination of commodities X and Y produced in Nigeria is called the
AProduction indicator
BMaximum production curve
CProduction possibility curve
DTotal output curve
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Question 22
jamb1993
What type of unemployment is revealed by the dotted lines on the graph?
Africtional unemployment
BCyclical unemployment
CCircular unemployment
DUnderemployment
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Question 23
jamb1993
Using the table calculate the net income
AN58m
BN54m
CN50m
DN46m
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Question 24
jamb1993
From the diagram above, a shift in the demand curve from DoDo to D1D1 implies
Aa rise in the demand for the commodity
Ba fluctuation in the demand for the commodity
Ca fall in the demand for the commodity
Dan equilibrrium in the demand for the commodity
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Question 25
jamb1993
In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?
APd
BP2
CP3
DP4
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Question 26
jamb1993
In the diagram, the marginal propensity to consume (MPC) is equal to
A\(\frac{RP}{TP}\)
B\(\frac{TP}{RP}\)
C\(\frac{RT}{RP}\)
D\(\frac{RT}{TP}\)
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Question 27
jamb1993
Determine the marginal revenue if the total revenue is 80.00
A6.00
B12.00
C14.00
D18.00
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Question 28
jamb1993
Given an output of 3 units, the average is
AN16.00
BN18.00
C20.00
D24.00
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Question 29
jamb1993
The international Bank for Reconstruction and Development is important to developing countries because it?
Agives loans to member countries for legal proceedings
Boffers grants and aid for defence
Coffers loans to member countries for socio-economics activities
Doffers grants and aid to finance luxury projects
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Question 30
jamb1993
Tariff on imports are meant to?
Aprevent a foreign goods
Bdiscourage exports
Cencourage exports
Dincrease the level of external dependency
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Question 31
jamb1993
From which of the following does Nigeria derive trade concessions?
AIMF
BWorld Bank
CADB
DEEC
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Question 32
jamb1993
Devaluation is effective when?
Ademand for imports is price inelastic
Bdemand for imports is neutral
Cproduction for export is low
Ddemand for exports is price elastic
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Question 33
jamb1993
Comparative advantage implies that a country will specialize in producing the commodity?
Awith the highest opprotunity cost
Bfor which output per worker is lower than in other countries
Cwith the lowest opportunity cost
Dfor which output per worker is the same with those of other countries
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Question 34
jamb1993
Which of the following are the advantages of Nigeria's membership of ECOWAS? i A greater opportunity for trade according to comparative cost advantage.
ii A large market industries producing under condition of decreasing cost.
iii Competition for home based monopoly firms
Ai and ii only
Bi and iii only
Cii and iii only
Di,ii and iii
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Question 35
jamb1993
Below equilibrium, the gap between aggregate demand and the full employment level of income is called the?
Ainflationary gap
Bincome gap
Cunemployment gap
Ddeflationary gap
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Question 36
jamb1993
The GDP of Nigeria will be greater than her GNP if?
Athe value of goods and services to Nigeria is greater than the value of those from Nigeria
Bconsumption is greater than investment
Cgovernment expenditures are greater than the foreign aid received
Dthe value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria
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Question 37
jamb1993
The best index for international comparison of standards of living is the?
Agross national product
Bnet national income
Cper capita income
Dgross national income
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Question 38
jamb1993
According to the income approach to national income measurement, the national income of a country is equal to?
Athe value of all output produced in the country over the relevant period of time at market prices
Bthe value of output at factors cost
Cthe value added to production
DC +I + G
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Question 39
jamb1993
Which of the following are the major disadvantage of direct system of taxation?i, Disincentive of hard work
ii,Difficulties in assessment and collection
iii, imperfection in tax assessment.
Ai and ii
Bi and iii
Cii and iii
Di, ii and iii
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Question 40
jamb1993
The joint ventures operating in the Nigerian oil industry are between?
Athe NNPC and independent marketers
Bthe NNPC and multinational marketers
Cthe NNPC and producer marketers
Dmultinational corperations and independent marketers
