Question 731:

• JAMB 1984

Given the present state of the Nigerian economy, which of the following measures will promote a more rapid economic development?

A. Complete dependence on oil exports
B. Concentration on agricultural exports
C. Diversification of the economy
D. Building of more schools and universities
E. Introduction of nuclear energy in Nigeria

Question 732:

• JAMB 1984

An improvement in Nigeria's terms of trade should

A. Lead to a fall in cost of her imports in terms of what she must sacrifice to obtain them
B. Make made in Nigeria goods cheaper to buy
C. Increase Nigeria's domestic output of commodities
D. Lead to an increase in her exchange rates
E. Lead to an increase in Nigeria's exports of petroleum

Question 733:

• JAMB 1984

If a person demands money for buying and selling securities. It is referred as demanding money for

A. Transaction purposes
B. Speculative purposes
C. Precautionary purposes
D. Meeting the educational expenses of the children
E. Carrying out gambling activities

Question 734:

• JAMB 1984

One of the advantages of large - scale production is that

A. There is a rise in the cost of administration
B. Consumers sacrifice their individual tastes
C. The firm can use labour - saving machinery
D. The demand for a firm's products become localized
E. Decision making takes a long time because different levels of management are involved

Question 735:

• JAMB 1984

A rightward shift in the production possibility frontier may be due to

A. Use of inferior inputs
B. Inefficiency
C. Improvement in production techniques and practices
D. Changes in the product mix
E. Changes in consumer's tastes and preferences