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Economics 1980 JAMB Past Questions

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41
Which of the following is NOT a measure for controlling inflation?
  • A. Reduction in money supply
  • B. Wage restraint and wage freeze
  • C. Reduction in taxes and increase in government spending
  • D. price control
  • E. Credit restriction
View Answer & Discuss JAMB 1980
42
Which of the following is NOT a determinant of changes in supply?
  • A. Changes in the cost of production
  • B. Technical progress
  • C. Weather
  • D. Changes in the number of producers
  • E. Changes in the number buyers
View Answer & Discuss (3) JAMB 1980
43
The marginal physical product of labour is?
  • A. the out put of labour unaided by machinery
  • B. the extra revenue from the output of one additional woker
  • C. the difference in the output of two workers
  • D. additional output achieved when one extraworker is added to fixed account of other factors
  • E. none of the above
View Answer & Discuss JAMB 1980
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44
One of the disadvantages of division of labour is that?
  • A. there is saving of time
  • B. it result in workers acquiring greater skill at their jobs
  • C. there is a greater risk of unemployment
  • D. it makes possible the use of machinery
  • E. it makes the worker less fatigued by his work
View Answer & Discuss (1) JAMB 1980
45
In the above diagram supply and demand conditions of sugar in a Nigerian market are given. An indirect tax of 10 kobo per kg is imposed it will be paid
  • A. wholly by the supplier
  • B. wholly by the consumer
  • C. partly by the supplier and partly by the consumer
  • D. wholly by the middlemen
  • E. partly by stockholder and partly by consumer
View Answer & Discuss (1) JAMB 1980
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