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AThe ratio of the change in income to the change in investment
BThe change in investment divided by the change in income
C\(\frac{1}{MPC}\)
D\(\frac{1}{1-\text{MPS}}\)
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Question 972
jamb1989
The amount, N4.08 million, shown as balance in the table represents
Aterms of payments
Bbalance on current accounts
Cbalance of trade
Dterms of trade
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Question 973
jamb1989
The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?
A400
B500
C600
D700
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Question 974
jamb1989
In the diagram above what happens when the minimum wage is fixed at OW?
AUnemployment is reduced
BUnemployment results
CThe demand schedule will shift
Dthe supply schedule will become steeper
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Question 975
jamb1989
If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are
Acomplementary goods
Bsubstitutes
Cinferior goods
Dluxury goods
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Question 976
jamb1989
The primary goal of development planning in Nigeria is to?
Aincrease profitability of enterprises
Bachieve a rapid increase in the welfare and standard of living of Nigerians
Cincrease the level of gross domestic product
Dmake Nigeria a super-power
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Question 977
jamb1989
A sustained increase in the per capita income of a country over a period of time is called?
Aeconomic growth
Beconomic development
Cstructural change
Dstagflation
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Question 978
jamb1989
If C stands for consumption expenditure, I for investment, X for exports, and M for imports, then national income is?
AC + I + X + M
BC + I +X - M
CC + I - X + M
DC + I + X
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Question 979
jamb1989
The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the?
Agross national product
Bdisposable income
Cnational income
Dgross domestic product
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Question 980
jamb1989
The difference between gross national product and net national product is equal to?
Agross investment
Bnet investment
Cnet foreign income
Dcapital depreciation
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Question 981
jamb1989
The group of people engaged in banking or insurance services by occupational distributions are classified as?
Aprimary producers
Bsecondary producers
Ctertiary producers
Dtechnical producers
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Question 982
jamb1989
Optimum population is the population level at which?
Adeath rate is at a minimum
Bper capita income is at a maximum
Cpopulation is at a maximum
Ddeath rate is equal to birth rate
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Question 983
jamb1989
International and inter-regional trade differ primarily because?
Acomparative advantage is relevant to the former but not to the latter
Bproducts flow across national boundaries
Cthere are different resources supplies among countries of the world
Dof regulation from GATT
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Question 984
jamb1989
The law of comparative advantage states that a country should specialize in the production of a commodity
Afor which local demand is greatest
Bin which its oportunity cost is lower than that of the trade partner
Cfor which foreign demand is greatest
Dfor which there is abundant supply of raw materials
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Question 985
jamb1989
By using exchange controls, a country tries to eliminate a balance of payments deficit by?
Alimiting her imports to its currency value of exports
Breducing the nation's domestic price level
Climiting her exports to its currency value of imports
Dovervaluing the country's currency
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Question 986
jamb1989
A balance budget is defined as a condition of?
Abalance of payments equilibrium
Bequality of planned aggregate demand supply
Cequality of planned receipts and planned expenditure
Dequality of planned exports and planned imports
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Question 987
jamb1989
A perfect example of a public good is?
Aair
Beducation
Cwater
Dtransport
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Question 988
jamb1989
The main objectives of public expenditure does NOT include?
Astabilization of national economy
Bachievement of a more equitable income distribution
Cmeeting the social needs of the people
Drevenue sharing and profit maximizationn
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Question 989
jamb1989
The three groups of government revenue are?
Ainvestment income, direct tax and indirect tax
Bimports duties, excise tax and export duties
Ccompany tax, personal income tax and import duties
Dcompany tax, import duties and excise tax
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Question 990
jamb1989
Government intervention in an economy is often justified on the group that?
Awants are unlimited while resources are scarce
Bproductivity is higher in the public than in the private sector
Cfree market may not work, or produce desirable results
Dopportunity cost of government expenditure is zero
