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Economics 1978 JAMB Past Questions

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46
A rational consumer will adjust his spending pattern so that
  • A. He buys only the one item that gives him most total satisfaction
  • B. The marginal utility he gets from the last unit of item is the same
  • C. The marginal utility he gets from the last naira spent on each item is the same
  • D. The total utility he gets from each item is the same
  • E. The total amount of money he spends on each item is the same
View Answer & Discuss (3) JAMB 1978
47
Bondholders are treated more favorably than shareholders because
  • A. They are not liable for the companies losses
  • B. They greater voice in the electing board of the directors
  • C. They control the management
  • D. They have a prior claim on the companies assets
  • E. none of the above
View Answer & Discuss (5) JAMB 1978
48
In the diagram equilibrium price is:
  • A. P2
  • B. Po
  • C. P1
  • D. indeterminate
  • E. between Po and P1 Diagram P.2
View Answer & Discuss (1) JAMB 1978
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
49
The numerical measure of elasticity is
  • A. \(\frac{\text{%change in Q}}{\text{%change in P}}\)
  • B. \(\frac{\text{change in Q}}{\text{change in P}}\)
  • C. \(\frac{\text{%change in P}}{\text{%change in Q}}\)
  • D. \(\frac{\text{change in P plus change in Q}}{\text{change in P}}\)
View Answer & Discuss JAMB 1978
50

A country has a surplus in its balance of visible trade if

  • A. the value of imports exceeds the value of exports of goods
  • B. the value of exports exceeds the value of import of goods
  • C. the value of goods exported is equal to the value of goods imported
  • D. it is able to spend a lot on capital programmes
  • E. commercial banks assets increase
View Answer & Discuss (3) JAMB 1978
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