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Economics 1983 JAMB Past Questions

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11
Palm oil industry is located in Bendel State because the State?
  • A. imports raw material for palm oil Industry
  • B. is a palm tree growing area
  • C. soil is unsuitable for other crops
  • D. government does engage land for other crops
  • E. land is suitable for oil
View Answer & Discuss JAMB 1983
12
The meaning of ‘wage-price spiral’ is?
  • A. demand pull and cost push inflation pulling each other in different director
  • B. demand pull and cost push inflation intensifying each other
  • C. both of them bringing about a reduction in the price level
  • D. that demand pull and cost push inflation increases employment
  • E. that wages and prices are rising at a proportional rate
View Answer & Discuss (4) JAMB 1983
13
In an inflationary period which of the following statements is NOT true?
  • A. Wages rise simultaneously with prices
  • B. The purchasing power of money diminishes
  • C. More money runs after a limited quantity of goods
  • D. Money supply increases
  • E. Aggregate real demand exceeds aggregate real supply
View Answer & Discuss (4) JAMB 1983
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14
Retailers in an economy perform the function of
  • A. production
  • B. exchange
  • C. distribution
  • D. horading
  • E. investment
View Answer & Discuss JAMB 1983
15
In a sole proprietorship, the decisions are made by the?
  • A. governmnet
  • B. borad of directors
  • C. management
  • D. shareholders'conference
  • E. owner
View Answer & Discuss JAMB 1983
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