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The income of an individual increases from N150 to N250 and his consumption rate increases from N100 to N150. Calculate the Marginal Propensity to Consume
A2
B0.4
C1
D0.5
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Question 354
jamb2015
The term of trade can be expressed as
A(Price index of export ÷ Price index of export)× 100
B(price index of import ÷ price index of export) × 100
C(Price index of export ÷ Price index of import)× 100
D(Price index of export + Price index of import)× 100
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Question 355
jamb2015
What would be likely to increase inflation in any economy?
AIncrease in demand
BReduce public spending
CControl excessive import
DIncrease in direct tax
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Question 356
jamb2015
The curve labeled III illustrate a system of taxation
Aregressive tax
Bprogressive tax
Cvalue added tax
Dproportional tax
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Question 357
jamb2015
The curve labeled II illustrates a system of taxation
Aproportional tax
Bregressive tax
Cvalue added
Dprogressive tax
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Question 358
jamb2015
The line Y in the diagram represents
Atotal cost
Bvariable cost
Cfixed cost
Dmarginal cost
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Question 359
jamb2015
Isocost and isoquant can be attributed to
ATheory of consumer behaviour
BTheory of cost
CTheory of production
DTheory of value
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Question 360
jamb2015
All the following are properties of an indifference curves except
Ait can intersect
Bit slopes downward from left to right like that of a normal demand curve
Cas it shift rightward it indicate higher and higher level of satisfaction
Dit does not intersect
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Question 361
jamb2015
Find the range in the following data 9, 15, 6, 20, 24, 18, 12, 8, 20, 10, 5.
A24
B5
C19
D12
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Question 362
jamb2015
Which of the following will shift the demand curve for Bournvita to the right
Aa rise in price of Bournvita
Ban increase in income
Ca tax on cocoa producer
Da fall in price of Bournvita
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Question 363
jamb2015
A market will be at equilibrium when
Ademand and supply are equal
Bdemand is greater than supply
Cprice is higher
Dsupply is greater than demand
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Question 364
jamb2015
All the following are types of specialization except
AManager Specialization
BProduct specialization
CSpecialization by sex
DGeographical specialization
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Question 365
jamb2015
The ownership of a public limited liability company is made up of
Atwo to twenty persons
Bminimum of two and maximum of fifty
Cminimum of seven and no maximum number
Downer owned by the government
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Question 366
jamb2015
The information that rank a consumer preferences is given by
AScale of preference
BIndifference map
CDemand schedule
DSupply schedule
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Question 367
jamb2015
A line in commodity space which shows the constraints imposed by his budget, his money income and the price of goods purchased is
Asupply curve
Bliquidity preference
CBudget line
Ddemand curve
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Question 368
jamb2015
The financial institution known as a building society is
