2003 - JAMB Economics Past Questions and Answers - page 5
41
An important factor hindering the rapid development of the industrial sector in Nigeria is
A
rural-urban migration
B
excessive demand for finished products
C
inadequate infrastructural facilities
D
the dominace of the oil sector
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42
Fixing the prices of agricultural products can be a problem because of the
A
activities of marketing boards
B
size of agricultural exports
C
instability of government policies
D
unpredicatable output of farmers
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43
The labour force of a country can be determined by examining the
A
age structure of the population
B
sex distribution of the population
C
geographical distribution of the population
D
occupational distribution of the population
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44

A
V
B
W
C
X
D
Z
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45

A
V
B
W
C
X
D
Z
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46

A
3y and 3x
B
6y and 4x
C
3y and 6x
D
5y and 5x
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47
The best method of production in an under populated country is
A
Labour-extensive
B
Land-intensive
C
Capital-intensive
D
Labour-intensive
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48
The commercial banks differ from non-bank financial institutions because they
A
Accept deposits withdrawable by cheque
B
Mobilize savings
C
Invest surplus funds
D
Contribute to economic development
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49
If Nigeria's composite price index in 1999 was 140.03% in 2000, the rate of inflation in 2000 was
A
4.02%
B
2.10%
C
2.06%
D
1.03%
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50
The theory of comparative advantage states that a commodity should be produced in that nation where the
A
Absolute cost is least
B
Absolute money cost is least
C
Opportunity cost is least
D
Production possibility curve increases
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