Question 326:

• JAMB 2015

Petroleum has the following positive contributions to the Nigerian economy except

A. Generate employment
B. Source of government revenue
C. Development of mono economy
D. Infrastructure development

Question 327:

• JAMB 2015

\(\begin{array}{c|c}
\text{Capital consumption allowance} & \text{N20,000} \\
\hline
\text{Gross domestic production} & \text{N60,000} \\
\hline
\text{Factor payment to foreigners} & \text{N10,000} \\
\hline
\text{Factor income from abroad} & \text{N15,000} \\
\end{array}\)


From the above table, calculate the Gross National Product.

A. N70,000
B. N75,000
C. N50,000
D. N60,000

Question 328:

• JAMB 2015

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

A. Stock exchange market
B. Imperfect market
C. Perfect market
D. Exchange market

Question 329:

• JAMB 2015

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

A. Labour and capital are close substitutes
B. Labour costs are only a small proportion of total costs
C. Demand for the final product that the labour produces is elastic
D. A large quantity of unemployed labour is available in the economy

Question 330:

• JAMB 2015

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

A. Paris, France
B. Geneva, Switzerland
C. Lagos, Nigeria
D. Vienna, Austria