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In the diagram above, the price P2 in price control situation, is referred to as
Aminimum price
Bmarkup price
Cmaximum price
Dmark-down price
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Question 22
jamb1998
What is the average total cost when output is 200 units in the table above is
AN1.00
BN2.0
CN1.20
DN2.40
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Question 23
jamb1998
Population Statistics of a Country. In 1990, the difference between the dependent population and the active population ratio is
A22%
B20%
C16%
D4%
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Question 24
jamb1998
Population Statistics of a Country. The dependency ratio between 1960 and 1990 is
Aincreased by 5%
Bincreased by 2%
Cdecrease by 2%
Ddecrease by 5%
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Question 25
jamb1998
From the table above, the total utility for the individual who consumes 3 units of commodity X is
A50 units
B150 units
C230 units
D250 units
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Question 26
jamb1998
In the diagram above, full employment is indicated by
AL
BM
CN
DP
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Question 27
jamb1998
The Economic Commission for Africa was set up by the?
AUNO
BECOWAS
COAU
DIMF
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Question 28
jamb1998
If a country operates a freely floating exchange rate system, and suffers a balance of payments deficit can be eliminated through?
Aa rise in the external value of its currency
Ba fall in the external value of its currency
Can increase in the volume of imports
Dthe consumption of more foreign goods
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Question 29
jamb1998
If a country has a balance of payments surplus on current account, this means that?
Atotal invisible export is greater than invisible import
Bthe value of goods exported must be greater than the value of goods imported
Cthere must be a positive balance of capital account
Dthe aggregate of the balance of trade and the invisible balance must be positive
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Question 30
jamb1998
The balance of visible trade is the difference between the values of?`
Aimported and exported goods
Bimported and exported services
Ccurrent account and capital account
Dexchange rate of local and foreign currencies
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Question 31
jamb1998
Development plans have not been successful in some developing countries largely because of?
Avery large working population
Bincrease level of consumption
Cscarcity of industrial raw materials
Dshortage of skilled labour and experts
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Question 32
jamb1998
One of the major consequences of urban-biased development programmes in Nigeria is that they?
Aled o rapid rural-urban migration
Bled to unprecedented urban wealth
Ctransformed rural areas into urban centres
Dincreased the level of specialized manpower inthe cities
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Question 33
jamb1998
Economically, underdeveloped countries are characterized by?
Ahigh rate of population growth and low rate of economic growth
Bhigh rate of economic growth and low rate of population growth
Chigh rate of population growth aand high rate of economic growth
Dlow rate of population growth and low rate of economic growth
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Question 34
jamb1998
The family Support Programme in Nigeria essentially focuses on?
Athe generation of employment
Bthe alleviation of poverty
Cagricultural and industrial development
Deconomic emancipation of women
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Question 35
jamb1998
Which of the following is a transfer payment?
ADividend to a shareholder
BGift to a mothers less babies' home
CSalary to a worker
DRent to a landlord
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Question 36
jamb1998
The major objective of economic growth is to?
Aredistribute income and other benefits of growth
Bequalize opportunities for education and employment
Cincrease the aggregate expenditure on goods and services
Dincrease real per capital income
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Question 37
jamb1998
A fall in the marginal propensity to save will lead to?
Aa decrease in national income
Ban increase in national income
Cno change in national income
Dan increase in disposable income
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Question 38
jamb1998
If a country's national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?
A5%
B15%
C20%
D100%
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Question 39
jamb1998
If a government wants to reduce the level of inflation, it will?
Arun a budget surplus
Brun a budget deficit
Crun a balanced budget
Dborrow more money
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Question 40
jamb1998
When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?
Aelasticity of demand for the good
Bproportion of the consumer's income spent on the good
Celasticities of demand and supply of the commodity
