JAMB Economics 2004 past questions

Which of the financial institution is charged with the formulation of monetary policies in Nigeria?

GDP differs from GNP because GDP

The distinction between perfect competition and monopolistic competition is that the latter is characterized by

The downstream activities of oil companies in Nigeria involve

The movement of goods and services from the products to the consumers is refereed to as

The purpose of conducting a census is to enable a country to

The maximum wage legislation seeks to

The marketing of agricultural commodities in Nigeria is hampered by

Import duty concessions on industrial inputs directly benefit the

The labour force in Nigeria falls between the ages of

Government's involvement in agricultural business in Nigeria's is most manifested in the

The difference between birth and death rates of a given population is referred to as the

Fiscal policy is the government's plan to control aggregate demand by manipulating

The European Union was formed to promote free trade within member nations

if budget deficits are financed by borrowing, the crowding-out effects can be offset by an increase in

When the importation of a commodity is limited to a definite quantity, the trade control means used is known as

The excess of aggregate expenditure over full emploment level of output is referred to as

The tax levied on goods and services at each stage of production is

The number of shareholders in a private limited liability company ranges from

The difference between payments and receipts for visible trade is called

The final stage in the production process of any commodity involves its movement from the

In the diagram above, ST is the budget line while I.II and III represent indifference curves. A rational consumer will choose to consume at point

In order to increase revenue, the seller of a commodity whose demand is fairly elastic is advised to

In any set of data, the median represent the

Combination) Beans (Unit) Rice (Unit) K L M The table above shows the combinations of beans and rice that can be purchased by a consumer. The opportunity cost of moving from K to L is

One of the assumption of ordinary utility in consumer behaviour is that

Given the cost function C = 160 + 36Q, what is teh average cost at 20 units of output?

If an increase in the p rice of good X leads to an increase in the supply of good Y, X and Y are said to be

The diagram above shows the shifts in both demand and supply curves. What is the new equilibrium point after the shifts?

When there is a change fron T to N, it implies that

In a textile factory, teh cost of cotton used is a typical example of