Question 531:

• JAMB 1980

The marginal physical product of labour is?

A. The out put of labour unaided by machinery
B. The extra revenue from the output of one additional woker
C. The difference in the output of two workers
D. Additional output achieved when one extraworker is added to fixed account of other factors
E. None of the above

Question 532:

• JAMB 1980

One of the disadvantages of division of labour is that?

A. There is saving of time
B. It result in workers acquiring greater skill at their jobs
C. There is a greater risk of unemployment
D. It makes possible the use of machinery
E. It makes the worker less fatigued by his work

Question 533:

• JAMB 1980

In the above diagram supply and demand conditions of sugar in a Nigerian market are given. An indirect tax of 10 kobo per kg is imposed it will be paid

A. Wholly by the supplier
B. Wholly by the consumer
C. Partly by the supplier and partly by the consumer
D. Wholly by the middlemen
E. Partly by stockholder and partly by consumer

Question 534:

• JAMB 1980

Commercial banks can create money in the following ways

A. By issuing coins and paper money
B. By borrowing money from Banks abroad
C. By receriving deposits from individuals
D. By printing money on the instructions of the Central Bank
E. None of the above

Question 535:

• JAMB 1980

Which is the dominant form of tax in Nigeria

A. Direct tax
B. Indirect tax
C. Inheritance tax
D. Personal income tax
E. Value added tax