J Economics 23

If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?

If demand function for a product is Qd = 30 - 4P, and the price and quantity of products is 4 and 14 respectively. What is the price elasticity of demand for the product?

The theory of _______ was propounded by _________

A persistence rise in the prices of inputs will lead to

All of the following describes conditions necessary for existence of a perfect market EXCEPT

The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged despite changes in the price is

The demand for a good is price inelastic if

The diagram above represent

40 men were employed in a farm, and they produced an average of 30 tons of cassava per person. Calculate the total product.

Part-time workers who desire full-time employment are:

Economists refer to private goods as

One major problem facing West African countries is

The diagram above represent

An increase in total production (real GDP) causes the demand for money to ______and the interest rate to _________

Among all the determinants of economic growth, the most important one is

The maximum price is

________ is presently used in Nigeria to measure inflation

The type of unemployment that occurs when an individual cannot find job as a result of obsolete skill is

The quantity of commodity a consumer is willing and able to buy at a particular time is called

Economics is often described as a science because it

If a business' total economic cost of producing 10,000 units of a product is N750,000 and this output is sold to consumers for N1,000,000, then the firm would earn

Which of the following would not be a reason for a government to impose a quota on imports?

Agriculture accounts for about 60% of the

Which of the following is the resultant effect of a fall in the profit margin of producers in an economy?

________ is the highest body in ECOWAS organogram

Which one of the following measures the natural growth rate of population?

Macroeconomics focuses on the following units in an aggregative manner

Suppose the public expenditure as a percentage of GDP of four countries is shown in the table below

Which type of economy exists in these countries?

The economies of West African Countries depend majorly on

Which of the following Age group belongs to active Labour force?

Which of the following shows why individual demand curve for a good usually slopes downward from left to right?

The decision to consume more of one product under normal circumstances will apply

________ is NOT the cause of balance of payments (BOP) deficits in Nigeria

Calculate the equilibrium level of national income (Y) where Y = C + I + G; C = 100 + 0.75Y; I = 50; G = 200

Real cost is

From the graph above, the consumer is at equilibrium at point

The law of supply states that, other things being constant, as price increases

The "velocity" of money is

A major factor contributing to productivity is

From the graph below, Point "E" shows ________