Question 481:

• JAMB 1979

A typical corporate form of business organization is owned by

A. President of a country
B. Shareholders
C. The general manager and the executives
D. A local government
E. Foreigners and citizens of the country

Question 482:

• JAMB 1979

The burden of tax on a commodity whose demand is infinitely inelastic

A. Is zero
B. Will be borne by the seller alone
C. Will be borne by the buyer alone
D. Will be borne by both buyer and seller
E. Is impossible to tell who bears it

Question 483:

• JAMB 1979

The pre-dominance of non-working housewives and maids in West Africa

A. Will understate the national income of the countries
B. Will overstate the national income of the countries
C. Will lead to constant per capita income over the years
D. Will lead to balance of payment deficits
E. Will cause unfavourable terms of trade

Question 484:

• JAMB 1979

Inflation can be curbed by

A. Increasing aggregate demand
B. Paying higher wages
C. Increasing government expenditure
D. Reducing aggregate demand
E. A deficit budget

Question 485:

• JAMB 1979

In most cases the marginal utility derived from a particular good

A. Increases as additional units are consumed
B. Increases at a decreasing rate as additional units are consumed
C. Decreases at a constant rate as additional units are consumed
D. Decreases as additional units are consumed
E. Remains constant as additional units are consumed