2003 - JAMB Economics Past Questions and Answers - page 4
31
The effect of an increase in the personal income tax is to
A
reduce unemployment
B
raise the absolute price level
C
reduce the disposable income
D
distort the economy
correct option: c
Users' Answers & Comments32
IBRD as an international monetary institution is concerned with the
A
improvement of trade among member nations
B
development of infrastructure in member nations
C
balance of payments problems of member nations
D
financing of private businesses in member nations
correct option: b
Users' Answers & Comments33
To compare the standard of living among nations, the most widely used economic indicator is the
A
real gross national income
B
real domestic output
C
real per capita income
D
per capita nominal income
correct option: c
Users' Answers & Comments34
The major role of multi-national companies in the petroleum industry in Nigeria is
A
the establishment of refineries
B
oil marketing and prospecting
C
oil marketing only
D
oil prospecting only
correct option: b
Users' Answers & Comments35
Two basic features common to an industry are
A
production processes and source of capital
B
source of capital and labour supply
C
similarity of products and source of raw materials
D
similarity of products and production processes
correct option: d
Users' Answers & Comments36
When a union is composed of workers with the same skill,it is termed
A
a technical union
B
a craft union
C
an industrial union
D
a workers' union
correct option: b
Users' Answers & Comments37
The demand for labour is an example of
A
composite demand
B
joint demand
C
derived demand
D
competitive demand
correct option: c
Users' Answers & Comments38
Occupational mobility as applied to factors of production means the ease by which
A
factors can be transferred from one form of use to another
B
resources can be transferred from one place to another
C
resources can be transformed from one form to another
D
factors can be transferred from one place to another
correct option: a
Users' Answers & Comments39
An adverse environmental impact of the petroleum industry on the economy is
A
communal riots
B
the vandalization of oil equipment
C
oil spillage
D
community development
correct option: c
Users' Answers & Comments40
country is said to be overpopulated when
A
the resocurce are more than enough to cater for the population
B
the size of the population is greater than the annual budget
C
the resources are inadequate to cater for the population
D
there are too many able-bodied men and women in the country
correct option: c
Users' Answers & Comments