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2941
What does the accelerator principles state?
  • A. Consumption is a function of the rate of change of income
  • B. income is a function of the rate of change of investment
  • C. Investment is a function of the rate of change of income
  • D. Investment is a function of the rate of interest
View Answer & Discuss (2) JAMB 2015
2942
A major limiting factor of mass production is
  • A. efficient management
  • B. adequate labour supply
  • C. small size of the market
  • D. adequate supply of raw materials
View Answer & Discuss JAMB 2015
2943
When elasticity is zero, demand curve is
  • A. perfectly elastic
  • B. perfectly inelastic
  • C. down-ward sloping
  • D. upward sloping
View Answer & Discuss (3) JAMB 2015
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2944
In a situation where Mux represent the marginal utility of product X while Px represent the price respectively. Utility can be maximized when
  • A. MUX = MUA
  • B. MUX = PX
  • C. PX = X
  • D. PX = PY
View Answer & Discuss JAMB 2015
2945
Which of the following could be used to measure the efficiency of labour?
  • A. rate of inflation
  • B. input-output ratio
  • C. buying more machines
  • D. unemployment rate
View Answer & Discuss JAMB 2015
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