2015 - JAMB Economics Past Questions and Answers - page 2
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about
The tax levied on locally produced goods is
(\begin{array}{c|c}
\text{Capital consumption allowance} & \text{N20,000} \
\hline
\text{Gross domestic production} & \text{N60,000} \
\hline
\text{Factor payment to foreigners} & \text{N10,000} \
\hline
\text{Factor income from abroad} & \text{N15,000} \
\end{array})
From the above table, calculate the Gross National Product.
Petroleum has the following positive contributions to the Nigerian economy except
The market in which the operators are many and none of them can influence the price is
The concentration of industries in a particular geographical area is
(\begin{array}{c|c}
\text{Units of quantity} & \text{Total utility} & \text{Marginal utility} \
\hline
0 & - & - \
\hline
1 & 10 & 10 \
\hline
2 & 15 & 5 \
\hline
3 & 17 & 2 \
\hline
4 & 18 & 1 \
\hline
5 & 18 & 0 \
\end{array})
The table illustrate the law of
All the following are the canons of taxation given by Adam Smith except
Census can be classified as
A firm that charges the maximum price without attracting competition from new entrants is