2000 - JAMB Economics Past Questions and Answers - page 3
21
Industries contribute to national economic development because they?
A
utilize local raw materials
B
employ an increase number of labour
C
provide recreational facilities
D
use modern machines which replace human labour
correct option: a
Users' Answers & Comments22
The Nigerian economy is mono-cultural because government revenue is derived mainly from?
A
agriculture
B
manufacturing
C
coal
D
crude oil
correct option: d
Users' Answers & Comments23
As a producer' association, the OPEC expects its members to maintain production where marginal cost is?
A
greater than price
B
less than price
C
equal to price
D
equal to average cost
correct option: b
Users' Answers & Comments24
A well conducted census is important for?
A
effective defence
B
effective revenue generation
C
good economic planning
D
optimum population
correct option: c
Users' Answers & Comments25
The age distribution of a country's population determines the?
A
ratio of the dependent to the working group
B
total age of all working class adults
C
male-female ratio
D
percentage of married women
correct option: a
Users' Answers & Comments26
Firms continue to employ workers until the wage rate equals the?
A
average product of labour
B
marginal revenue product of labour
C
total product of labour
D
sum of marginal revenue and average revenue of labour
correct option: b
Users' Answers & Comments27
A major effect of a long distribution chain is?
A
high retail prices
B
scarcity of commodities
C
low retail prices
D
low producer earnings
correct option: b
Users' Answers & Comments28
The major function of the wholesaler to his customers is?
A
breaking of bulk
B
offering personal services
C
stocking a variety of goods
D
providing transport facilities
correct option: a
Users' Answers & Comments29
Which of the following is used for measuring national income?
A
Output, income and wages
B
Import, expenditure and output
C
Income, output and expenditure
D
Export, Import and output
correct option: c
Users' Answers & Comments30
Exclusions that makes Gross National Product a poor measure of welfare are?
A
goverment purchases
B
government millitary outlays
C
wages and salaries
D
housewives services
correct option: d
Users' Answers & Comments