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56
which of these alternative is wrong? central banks are
A.
bankers to the government
B.
bankers to commercial banks
C.
merchant banks
D.
controllers and regulators of money supply
E.
issuers of bank note
View Answer & Discuss (3)
JAMB 1979
57
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
A.
there are restrictions in trade
B.
there are no cost of transportations
C.
ther is perfect competition
D.
there are no tariff or import and export quota
E.
there are only two countries and only two commodities entering into international trade
View Answer & Discuss (1)
JAMB 1979
58
Which of the following is not a direct tax?
A.
company income tax
B.
capital tax
C.
purchase tax
D.
personal income tax
E.
capital gain tax
View Answer & Discuss (3)
JAMB 1979
59
Division of labour means
A.
dividing the labour into different categories
B.
splitting the process of production into different parts to be completed by each person
C.
dividing the goods and services into different sections
D.
assigning different duties to labourers
E.
group of labourers working in a factory or shop
View Answer & Discuss (1)
JAMB 1979
60
By utility we mean
A.
usefulness
B.
power of satisfying a want
C.
beneficial
D.
advantageous
E.
consumable
View Answer & Discuss (7)
JAMB 1979
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