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Economics 1984 JAMB Past Questions

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41

The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

  • A. N350.00
  • B. N340.00
  • C. 360.00
  • D. 370.00
  • E. 55.00
View Answer & Discuss (1) JAMB 1984
42
The diagram illustrates
  • A. the circular flow of income
  • B. gross national product plus depreciation
  • C. incomes of the private sector
  • D. the profit of business enterprises
  • E. the output approach to national income determination
View Answer & Discuss (4) JAMB 1984
43
Given the present state of the Nigerian economy, which of the following measures will promote a more rapid economic development?
  • A. Complete dependence on oil exports
  • B. Concentration on agricultural exports
  • C. Diversification of the economy
  • D. Building of more schools and universities
  • E. Introduction of nuclear energy in Nigeria
View Answer & Discuss JAMB 1984
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44
An improvement in Nigeria's terms of trade should
  • A. Lead to a fall in cost of her imports in terms of what she must sacrifice to obtain them
  • B. Make made in Nigeria goods cheaper to buy
  • C. Increase Nigeria's domestic output of commodities
  • D. Lead to an increase in her exchange rates
  • E. Lead to an increase in Nigeria's exports of petroleum
View Answer & Discuss JAMB 1984
45
If a person demands money for buying and selling securities. It is referred as demanding money for
  • A. Transaction purposes
  • B. Speculative purposes
  • C. Precautionary purposes
  • D. Meeting the educational expenses of the children
  • E. Carrying out gambling activities
View Answer & Discuss (2) JAMB 1984
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