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351
The act of combining factor inputs in order to obtain specific output is known as
  • A. factor procurement
  • B. manufacturing
  • C. investment
  • D. industrialization
  • E. production
View Answer & Discuss JAMB 1985
352
Disguised unemployment
  • A. exist when manpower is not being utilized efficiently
  • B. calls for the implementation of five plans
  • C. can be eliminated if the press is free
  • D. can be eliminated if the capital output ratio is increased
  • E. is a statistical artifact with no economic meaning
View Answer & Discuss JAMB 1985
353
The unemployment associated with a recession is called?
  • A. voluntary
  • B. frictonal
  • C. cyclical
  • D. structural
  • E. maximum
View Answer & Discuss (1) JAMB 1985
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354
When total revenue is at a maximum, marginal revenue is?
  • A. constant
  • B. negative
  • C. zero
  • D. positive
  • E. maximum
View Answer & Discuss JAMB 1985
355
Choice in economic life is necessitated by?
  • A. the need to construct scale of preference
  • B. the opportunity cost of consumption
  • C. unlimited wants
  • D. scarcity of economic resources
View Answer & Discuss JAMB 1986
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