1990

JAMB Economics 1990 past questions

34 questions from the 1990 JAMB UTME Economics paper. Free, with answers where available.

Practice with CBT mock -> All Economics years
Economics JAMB 1990 Q8
Economics of scale operate only when
A
Marginal cost is falling with input
B
Average cost is falling with output
C
Fixed cost is variable
D
Variable cost is less than fixed cost
Economics JAMB 1990 Q9
At the point of profit maximization by a firm, marginal cost is
A
Minimum
B
Falling
C
Constant
D
Rising
Economics JAMB 1990 Q10
A Situation in which all inputs are doubled and output also doubles is known as
A
Constant proportion
B
Constant returns
C
Increasing returns to scale
D
Constant returns to scale
Economics JAMB 1990 Q11
The demand curve would shift to the when there is a rise in
A
Constant proportions
B
Constant returns
C
Increasing returns to scale
E
Constant returns to scale
Economics JAMB 1990 Q12
The law of diminishing marginal utility indicates that if a consumer increase his consumption of a commodity continously his
A
Total utility must fall
B
Marginal utility must fall
C
Marginal utility may rise even though his total utility is falling
D
Marginal utility may fall even though his total utility may be rising
Economics JAMB 1990 Q16
Which of the following graphs represents the price quantity relationship between tea and lemon, if they are perfect complements?
A
P (tea)
B
P (tea)
C
P (ea)
D
P (ea) Q (lemon) Q (lemon)
Economics JAMB 1990 Q17
In the below diagram, RTX, are the marginal cost and the average cost curve respectively of a perfectly competitive firm. The supply curve of the firm is indicates by
A
TX
B
RT
C
ST
D
TY S Y X R T Q O
Economics JAMB 1990 Q18
An imperfect market in which there is only one buyer of a commodity is
A
Monopsony
B
Oligopoly
C
Monopoly
D
Duopoly
Economics JAMB 1990 Q19
The tailoring service is competitive partly because it consists of a large number of
A
Large-scale enterprises
B
Medium scale enterprise
C
Small scale enterprises
D
Government-owned enterprises
Economics JAMB 1990 Q20
Which of the following is applicable to a monopolistic firm operating at the output where marginal cost equals marginal revenue?
A
Cost of production is at a minimum
B
The plant is of optimum size
C
Price is above marginal revenue
D
Average variable cost is at a minimum
Economics JAMB 1990 Q21
Which of the following is the major function of the wholesaler?
A
Bulk breaking
B
Provision of useful information to the manufacturer on products
C
Provision of after sales service to consumers
D
Provision of warehousing facility
Economics JAMB 1990 Q22
In the distribution channels for goods and services, the middleman's mark-up margin provides a rough measure for the
A
Quantity discount allowed final consumers
B
Reward for business entrepreneurship
C
Effectiveness of government control over economy's marketing channels
D
Extent of exploitation of the final consumer
Economics JAMB 1990 Q23
Which of the following reasons could induce a manufacturer to by pass the wholesaler in the distribution chain?
A
To provide the quantity needed by retailers
B
To collect usefully information on his product
C
To provide ware housing facilities
D
To violate government regulation on distribution
Economics JAMB 1990 Q26
Capital provided by individuals to the firm by purchasing stocks is called
A
Debt capital
B
Fixed capital
C
Circulating
D
Equity capital
Economics JAMB 1990 Q27
Which of the following factors is the most important in siting a petro-chemical plant?
A
Nearness to the source of raw materials
B
Nearness tot he source of power
C
Availability of labour
D
Proximity of financial institutions
Economics JAMB 1990 Q29
If the same basket of goods which cost N12.00 in 1985 cost N15.00 in 1987 is
A
25
B
80.
C
100
D
125
Economics JAMB 1990 Q30
Which of the following is like to be inflationary?
A
Tax increase
B
Increase in unemployment
C
Budget surplus
D
Wage increases
Economics JAMB 1990 Q31
The basic purpose of imposing legal reserve require ments on commercials banks is to
A
Assure the profitability of commercial banks
B
Provide a device through which credit creation by bankscan be controllled
C
Provide a proper ratio between earning and non-bank assets
D
Provide the Central Bank with with working Capital
Economics JAMB 1990 Q32
Find the total credit that the banking system can create if primary deposits is just N100.00 while the cash ratio is 20%
A
N700.00
B
N600.00
C
500.00
D
N400.00
Economics JAMB 1990 Q33
Which of the following is a liability of a commercial bank?
A
Deposits in the bank
B
Loans made by the bank to individuals
C
Loans made by the bank to other banks
D
Bonds purchased by the bank
Economics JAMB 1990 Q35
The relationship between tax rate and income which is relevant to a progressive tax is shown by
A
Curve X
B
Curve Y
C
Curve Z
D
Curve X and Z
Economics JAMB 1990 Q36
The relationship between tax rate and income which is relevant to a proportional tax is depicted by
A
Curves Z and Y
B
Curve X
C
Curve Z
D
Curve Y
Economics JAMB 1990 Q37
Under a system of freely floating exchange rate, an increase in the international value of a country (s)currency will cause
A
Its exports to rise
B
Its imports to rise
C
Gold to flow into that country
D
Its currency to be in surplus
Economics JAMB 1990 Q38
Balance or trade is te difference between
A
Exports and imports of goods and service
B
Capital inflows and capital outflows
C
Visible and invisible balances
D
Exports an imports of goods
Economics JAMB 1990 Q39
Which of the following is likely to reduce a surplus in the balance of payments of a country?
A
Devaluation
B
Increased tarrif on imports
C
Export promotion
D
Currency appreciation
Economics JAMB 1990 Q40
Which of the following is a tariff?
A
Limit on the amount of good which can be imported
B
Interest rate on foreign loans
C
Government payment to domestic producers for exports
D
Tax on imported goods
Economics JAMB 1990 Q41
Import duties will increases total expenditure on imports if the demand for imports is
A
Elastic
B
Inelastic C.Infinitely elastic
D
Derived
Economics JAMB 1990 Q42
Which of the following is likely to hinder labour mobility in Nigeria?
A
Higher wages elsewhere
B
Cultural similarities
C
Good accommodation
D
Ignorance of job opportunities elsewhere
Economics JAMB 1990 Q43
If birth rate is constant and death rate declines, population
A
Falls
B
Expands
C
Stabilizes
D
Oscillates
Economics JAMB 1990 Q44
If the government invests the sum of N1 000.00 and the marginal propensity to consume is 0.75, what it the change in income?
A
N 1000 000.00
B
N4 000 000.00
C
6 000 000.00
D
N14 000 000.00
Economics JAMB 1990 Q45
The system of measurement of national income as the sum of all final demands is called
A
Income approach
B
Expenditure approach
C
Is payable tot he disabled members of the community
D
Accrues tot he environmental sanitation authorities for refuse
Economics JAMB 1990 Q46
Disposable income is an income which
A
Is available for consumption and savings [PAGE 29]
B
Pensioners receive from the government
C
Is payable tot he disabled members of the community
D
Accrues to the environmental sanitation authorities for refuse disposal
Economics JAMB 1990 Q47
In equilibrium, injections are equal to
A
Withdrawals B.Surplus of imports over exports
C
Government spending
D
Wages
Economics JAMB 1990 Q48
Social overhead capital refers to
A
Balanced growth
B
Gross investment
C
The building of infrastructures
D
Capital formation Economics 1991