Question 466:

• JAMB 1979

When the average physical product curve is rising the marginal physical product is

A. Below it
B. Above it
C. Falling
D. Zero
E. None of the above

Question 467:

• JAMB 1979

The proportion of currency in the money supply

A. Is higher in developing countries than advanced countries
B. Is lower in developing countries than advanced countries
C. Is the same in both developing and advanced countries
D. Grows as the economy develope
E. None of the above

Question 468:

• JAMB 1979

If a government is running deficit, this means

A. A term of trade are unfavourable
B. More project cannot be undertaken
C. Tax inflow is greater than expenditure
D. Aggregate demand is greater than aggregate supply
E. Tax inflow is less than expenditure

Question 469:

• JAMB 1979

Pure monopoly describes market where

A. There are many sellers and a few buyers
B. Goods are sold at different price
C. Entry is not blocked, but no one cares to enter
D. A few sellers and one buyer exist
E. None of the above

Question 470:

• JAMB 1979

Which of the following assets of the commercial bank does not yield revenue?

A. Money in the tills of the bank
B. Money at call
C. Treasury certificates
D. Treasury bills
E. Bills of exchange