Economics Past Questions

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2621

The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?

A. 400
B. 500
C. 600
D. 700

View Answer & Discuss (1) JAMB 1989

2622

The amount, N4.08 million, shown as balance in the table represents

A. terms of payments
B. balance on current accounts
C. balance of trade
D. terms of trade

View Answer & Discuss JAMB 1989

2623

The flow labelled Y refers to

A. real income
B. factor payment
C. factor input
D. national income

View Answer & Discuss (1) JAMB 1990

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2624

The lower half of the diagram indicates

A. the flow of goods and services
B. payments for goods and services
C. the flow of income
D. government transactions

View Answer & Discuss (2) JAMB 1990

2625

The relationship between tax rate and income which is relevant to a progressive tax is shown by

A. curve X
B. curveY
C. curve Z
D. curve X and Z

View Answer & Discuss (1) JAMB 1990

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