Jamb 1990 Economics Past Questions And Answers
1
A tax on a commodity whose supply is perfectly inelastic is?
- A. shifted completely on the consumer
- B. completely borne by the supplier
- C. dividend in the ratio 60;40 between the consumer and the supplier
- D. divided half-and-half between the producer and the consumer
2
The system of measurement of national income as the sum of all final demands is called?
- A. income approach
- B. expenditure approach
- C. value-added
- D. final demands approach
3
Under a system of freely floating exchange rates 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
4
Which of the following is likely to hinder labour mobility in Nigeria?
- A. Higher wages elsewhere
- B. Cultural similarities
- C. Good accommodation elsewhere
- D. Ignorance of job opportunities elsewhere
5
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
6
Balance of trade is the difference between?
- A. exports and imports of goods and services
- B. capital inflows and capital outflows
- C. visible and invisible balances
- D. exports and imports of goods
7
In economic life, choice among alternatives depends on the?
- A. income of the decision maker
- B. scarcity of resources
- C. scale of preference of the decision maker
- D. status of the decision maker
8
Which of the following is a tariff?
- A. Limit on the amount of goods which can be imported
- B. Inteest rate on foreign loans
- C. Government payment to domestic producers for exports
- D. Tax on imported goods
9
If the same basket of goods which cost N12.00 in 1985 cost N15.00 in 1987, price index for 1987 is?
- A. 25
- B. 80
- C. 100
- D. 125
10
The flow labelled Y refers to
- A. real income
- B. factor payment
- C. factor input
- D. national income