J Economics 15

The table illustrate the law of

The relationship between the cost of living and standard of living is

What will increase the likelihood that the firms in an industry will conclude to maximize their joint profit?

A commercial bank can create money by

All the following are the canons of taxation given by Adam Smith except

Disposable income is total income

The tax levied on locally produced goods is

The information that rank a consumer preferences is given by

Mr. Patrick’s income is N900 while that of Mr. Shodawe is N1,300. if Mr. Patrick and Shodawe pay N90 and N130 as taxes, the tax system is

In which of the following economic systems do we have the means of production and exchange controlled by private individuals

A line in commodity space which shows the constraints imposed by his budget, his money income and the price of goods purchased is

The combination of two commodities each yielding the same level of satisfaction to the consumer is

All the following are problems identified with agriculture in West Africa except

What would be likely to increase inflation in any economy?

All the following are properties of an indifference curves except

All the following are types of specialization except

The diagram above shows the shifts in both demand supply curves. What is the new equilibrium point after the shifts?

The marginal product at the fifth variable factor is

Revenue can be expressed as

The frequent value that occurs most in a data is

The source of all economic problems arises from

Census can be classified as

Which of the following will shift the demand curve for Bournvita to the right

The curve labeled II illustrates a system of taxation

The ownership of a public limited liability company is made up of

A market will be at equilibrium when

Petroleum has the following positive contributions to the Nigerian economy except

The ordinalist approach of utility postulated that utility can be

Which of the following are examples of transfer payment

The concentration of industries in a particular geographical area is

Which of the following business units can issue shares?

A monopolist has the power to influence the prices of goods and services. Therefore, he is a

The headquarter of the Organization Of Petroleum Exporting Countries (OPEC) is in

In which situation is it likely that the demand for labour would be inelastic?

Which of the following is not a type of unemployment

The line Y in the diagram represents

All the following are factors that would bring about a change in supply except

The financial institution known as a building society is

A firm that charges the maximum price without attracting competition from new entrants is

Find the range in the following data 9, 15, 6, 20, 24, 18, 12, 8, 20, 10, 5.

The law of variable proportions is also known as

Isocost and isoquant can be attributed to

The quantity theory of money states that a reduction in the quantity of money in circulation would bring about

The income elasticity of demand of normal goods is

The technical relationship between the physical inputs and the physical outputs of a firm is

From the above table, calculate the Gross National Product.

The market in which the operators are many and none of them can influence the price is

Calculate the average product when the 2nd labour was employed

The following equations relate to an open economy with a government sector. E = aggregate expenditure on domestically produced goods, C = Consumption, I = Investment, G = Government expenditure, T = taxes, M = imports, X = Exports. Which equation is correct

The curve labeled III illustrate a system of taxation