Adex097: [/color]aiit...
Primary deposit=#100
Cash ratio = 20%
Total credit = ?
Solution;
TC=1/CR x PD
TC=1/20% x 100
=1 ÷ 20/100 x 100
=1 x 100/20 x 100
=1 x 5 x 100
TC= 500

NOTE;TC»»»Total credit
CR»»»Cash ratio or crr»»cash reserv ratio
PD»»»primary deposit
[color=#990000]

aiit, thanks

CORRECTION!!!

1) (C) -increases by #7000
REASON-
Using the income approach, the initial income of #6000 cannot be added to national income because the student got the income without partaking in any form of productive activity #TRANSFER-INCOMES#. So we add the #7000 he earns from his job only.

2. You all got it right. (B)

3.Same. (A)

4. Terms of trade=
export price index/import price index x 100
TOT=70/50 x 100/1
=140 (D)

5. (D)


NAME --------SCORE
*ajengh-------4/5

*sir bussy------4/5

*papindinho-------3/5

*adegbemigunjosh-----4/5



Goodjob guys

papindinho: aiit, thanks

you welcome bro

Adex097: CORRECTION!!!

1) (C) -increases by #7000
REASON-
Using the income approach, the initial income of #6000 cannot be added to national income because the student got the income without partaking in any form of productive activity #TRANSFER-INCOMES#. So we add the #7000 he earns from his job only.

2. You all got it right. (B)

3.Same. (A)

4. Terms of trade=
export price index/import price index x 100
TOT=70/50 x 100/1
=140 (D)

5. (D)


NAME --------SCORE
*ajengh-------4/5

*sir bussy------4/5

*papindinho-------3/5

*adegbemigunjosh-----4/5



Goodjob guys

thanks a lot bro. Am in need of certain things from you. Like........ Some topics in economics av calculations and it would be of great help if u cld help write out ds topics as related to JAMB with the basic formulars dey av. Gradually, we are gonna get there. More power to your elbow

things are getting too personal in here,why don't we just ask questions, answer and make corrections ,that's gonna make here a better helping ground...am a new here tho buh had to go through loads of personal talks before I could see the corrections to some questions ..tiring if I would say

No vex dat s likely to occur just do as if u knw c am

spenca: things are getting too personal in here,why don't we just ask questions, answer and make corrections ,that's gonna make here a better helping ground...am a new here tho buh had to go through loads of personal talks before I could see the corrections to some questions ..tiring if I would say

they re matter within matters... Hp u no vex... Succex is sure wlcm to succex oriented thread...

oge1914: sure jamb assist.my number is234- .O8O- .277- .294- .37-

pls moderator dis re d kind of post dat needs hiddng...

Dis s nt allow here

oge1914: sure jamb assist.my number is234- .O8O- .277- .294- .37-

pls moderator dis re d kind of post dat needs hiddng...

spenca: things are getting too personal in here,why don't we just ask questions, answer and make corrections ,that's gonna make here a better helping ground...am a new here tho buh had to go through loads of personal talks before I could see the corrections to some questions ..tiring if I would say

cool down bro...we are one family here.

The parameter 'b' in a consumption function of the form; C=a+by; where Y is the National income is
A. Marginal benefit of consumption
B. Marginal propensity to save
C. Marginal propensity to consume
D. Marginal propensity to purchase

Adex097: The parameter 'b' in a consumption function of the form; C=a+by; where Y is the National income is
A. Marginal benefit of consumption
B. Marginal propensity to save
C. Marginal propensity to consume
D. Marginal propensity to purchase

. C

Adex097: The parameter 'b' in a consumption function of the form; C=a+by; where Y is the National income is
A. Marginal benefit of consumption
B. Marginal propensity to save
C. Marginal propensity to consume
D. Marginal propensity to purchase

C

Adex097: cool down bro...we are one family here.

yet another irrelevant post

spenca:
yet another irrelevant post

And wat's dat supposed 2 mean?

papindinho: thanks a lot bro. Am in need of certain things from you. Like........ Some topics in economics av calculations and it would be of great help if u cld help write out ds topics as related to JAMB with the basic formulars dey av. Gradually, we are gonna get there. More power to your elbow

amen bro..
»I'm so sorry for replying late.
»Didn't see this post earlier.
»i'd do that ASAP

spenca:
yet another irrelevant post

»Why didn't you attend to the relevant one.
»Don't tell me you didn't see that question

VERY GOOD @ajengb and sirbussy

nice worj

@papindinho

Topic: population

R=BR-DR+Net migration

Natural increase=BR-DR

Where;
R is rate of population growth
BR is birth rate
DR is death rate
Net migration is the difference between the
Number of immigrants and emigrants

Population density=
total area population ÷ land area in square


TOPIC: quantity theory of money

MV=PT
Where;
M is supply of money
V is money circulation
P is price level
T is quantity of goods

TOPIC: creation of money by commercial banks
MC=ID ÷ CRR
Where; mc is money created
Id is initial deposit
Crr is cash reserve ratio

Price index= cost in current yr/cost in base year
X 100/1


TOPIC: elasticities

Price elasticity of demand=
%change in quantity demanded ÷ %change in price
Income elasticity of demand=
%change in quantity demanded÷%change in incom
Cross elasticity of demand=
%change in quantity of x demanded ÷
%change in price of y
Price elasticity of supply=
%change in quantity supplied ÷ %change in price


TOPIC: national income accounting

GDP=NDP+depreciation or
GNP - net income from abroad
GNP=GDP + net income from abroad or
NNP+depreciation
NDP=GDP - depreciation
NNP=GNP - depreciation
Per capital income=national income ÷ population
National income (y) = c+I+G+(X-M)+P
Y=C+S
Y=C+I
Yd= y - T

Where; (y) is national income
C=private consumption expenditure
I=private investment on expenditure
G=govt expenditure on consumptn and
Investment
X=exports
M=Imports
P=income from property
T=taxes
yd=disposable income
S=savings

TOPIC: income determination
APC=C/Y
APS=S/Y
APC+APS=1
MPC=change in consumption/change in income
MPS=change in savings/change in income
MPS+MPC=1
K=1/1-MPC=1/MPS= change in income ÷
Change in consumption
K=1/1-MPC=1/MPS= change in income ÷
Change in savings
K=1/1-MPC=1/MPS= change in income ÷
Change in govt expenditure

TOPIC: international trade
TOT=index of export prices ÷ index of import prices
X 100/1
Where;
TOT= terms of trade

Other topics to learn under maths
*equations
*statistics
*percentages
*ratio
*mean, median,mode
*range, variance, standard deviation
etc

The investment expenditure of an economy changes by #2m and mpc is 0.75

1) What is the change in income
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0m

2)The multiplier is
A. 8
B. 4
C. 3
D. 2

3) If a basket of commodities cost #120 in the base year and #240 in the current year , calculate the price index.
A. 100
B. 200
C. 240
D. 300

4)In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The multiplier is
A. 2.7
B. 2.6
C. 2.4
D. 2.5

Adex097: @papindinho

Topic: population

R=BR-DR+Net migration

Natural increase=BR-DR

Where;
R is rate of population growth
BR is birth rate
DR is death rate
Net migration is the difference between the
Number of immigrants and emigrants

Population density=
total area population ÷ land area in square


TOPIC: quantity theory of money

MV=PT
Where;
M is supply of money
V is money circulation
P is price level
T is quantity of goods

TOPIC: creation of money by commercial banks
MC=ID ÷ CRR
Where; mc is money created
Id is initial deposit
Crr is cash reserve ratio

Price index= cost in current yr/cost in base year
X 100/1


TOPIC: elasticities

Price elasticity of demand=
%change in quantity demanded ÷ %change in price
Income elasticity of demand=
%change in quantity demanded÷%change in incom
Cross elasticity of demand=
%change in quantity of x demanded ÷
%change in price of y
Price elasticity of supply=
%change in quantity supplied ÷ %change in price


TOPIC: national income accounting

GDP=NDP+depreciation or
GNP - net income from abroad
GNP=GDP + net income from abroad or
NNP+depreciation
NDP=GDP - depreciation
NNP=GNP - depreciation
Per capital income=national income ÷ population
National income (y) = c+I+G+(X-M)+P
Y=C+S
Y=C+I
Yd= y - T

Where; (y) is national income
C=private consumption expenditure
I=private investment on expenditure
G=govt expenditure on consumptn and
Investment
X=exports
M=Imports
P=income from property
T=taxes
yd=disposable income
S=savings

TOPIC: income determination
APC=C/Y
APS=S/Y
APC+APS=1
MPC=change in consumption/change in income
MPS=change in savings/change in income
MPS+MPC=1
K=1/1-MPC=1/MPS= change in income ÷
Change in consumption
K=1/1-MPC=1/MPS= change in income ÷
Change in savings
K=1/1-MPC=1/MPS= change in income ÷
Change in govt expenditure

TOPIC: international trade
TOT=index of export prices ÷ index of import prices
X 100/1
Where;
TOT= terms of trade

Other topics to learn under maths
*equations
*statistics
*percentages
*ratio
*mean, median,mode
*range, variance, standard deviation
etc

thanks bro...... God bless you

papindinho: thanks bro...... God bless you

you welcome bro

Adex097: The investment expenditure of an economy changes by #2m and mpc is 0.75

1) What is the change in income
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0m

2)The multiplier is
A. 8
B. 4
C. 3
D. 2

3) If a basket of commodities cost #120 in the base year and #240 in the current year , calculate the price index.
A. 100
B. 200
C. 240
D. 300

4)In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The multiplier is
A. 2.7
B. 2.6
C. 2.4
D. 2.5

1.D 2.B 3.A 4.D

Adex097: The investment expenditure of an economy changes by #2m and mpc is 0.75

1) What is the change in income
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0m

2)The multiplier is
A. 8
B. 4
C. 3
D. 2

3) If a basket of commodities cost #120 in the base year and #240 in the current year , calculate the price index.
A. 100
B. 200
C. 240
D. 300

4)In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The multiplier is
A. 2.7
B. 2.6
C. 2.4
D. 2.5

d b b d

Adex097: The investment expenditure of an economy changes by #2m and mpc is 0.75

1) What is the change in income
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0m

2)The multiplier is
A. 8
B. 4
C. 3
D. 2

3) If a basket of commodities cost #120 in the base year and #240 in the current year , calculate the price index.
A. 100
B. 200
C. 240
D. 300

4)In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The multiplier is
A. 2.7
B. 2.6
C. 2.4
D. 2.5

d.b.b.d

Adex097: The investment expenditure of an economy changes by #2m and mpc is 0.75

1) What is the change in income
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0m

2)The multiplier is
A. 8
B. 4
C. 3
D. 2

3) If a basket of commodities cost #120 in the base year and #240 in the current year , calculate the price index.
A. 100
B. 200
C. 240
D. 300

4)In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The multiplier is
A. 2.7
B. 2.6
C. 2.4
D. 2.5

1*A 2*B 3*B 4*D

NAME------SCORE

#Sir bussy.........3/4
#emekakelvin.........4/4
#adegbemigunjosh....4/4
#papindinho.......3/4

*ANS___(1)D (2)B (3)B (4)D

1) Increased output will cause farmers revenue to decrease when market demand is.
A. Elastic
B. Perfectly elastic
C. Unitary elastic
D. Inelastic

2)The concept of privatisation presupposses
A. Indigenisation
B. Market price
C. Efficiency
D. Foreign trade

3)A persistent rise in the general level of prices implies
A. An increase in some prices
B. A one time rise in prices
C. That the higher the price level, the more the value of money
D. A steady fall in the purchasing power of money

4)An aspect of taxation that involves normative economics is the
A. Tax rate
B. Fairness of the tax
C. Effect of incentive to work
D. Tax burden

5)A country exporting mainly primary products and a high percentage of her labour force in agriculture is said to be
A. Developing
B. Developed
C. Underdeveloped
D. Poor

6)As a producer's association, the OPEC expects its members to maintain production where marginal cost is
A. Greater than price
B. Equal to average price
C. Equal to price
D. Less than price

Adex097: 1) Increased output will cause farmers revenue to decrease when market demand is.
A. Elastic
B. Perfectly elastic
C. Unitary elastic
D. Inelastic

2)The concept of privatisation presupposses
A. Indigenisation
B. Market price
C. Efficiency
D. Foreign trade

3)A persistent rise in the general level of prices implies
A. An increase in some prices
B. A one time rise in prices
C. That the higher the price level, the more the value of money
D. A steady fall in the purchasing power of money

4)An aspect of taxation that involves normative economics is the
A. Tax rate
B. Fairness of the tax
C. Effect of incentive to work
D. Tax burden

5)A country exporting mainly primary products and a high percentage of her labour force in agriculture is said to be
A. Developing
B. Developed
C. Underdeveloped
D. Poor

6)As a producer's association, the OPEC expects its members to maintain production where marginal cost is
A. Greater than price
B. Equal to average price
C. Equal to price
D. Less than price

. 1,a 2,c 3,d 4,d 5,c 6,c

Adex097: NAME------SCORE

#Sir bussy.........3/4
#emekakelvin.........4/4
#adegbemigunjosh....4/4
#papindinho.......3/4

*ANS___(1)D (2)B (3)B (4)D

oh my!!

Adex097: 1) Increased output will cause farmers revenue to decrease when market demand is.
A. Elastic
B. Perfectly elastic
C. Unitary elastic
D. Inelastic

2)The concept of privatisation presupposses
A. Indigenisation
B. Market price
C. Efficiency
D. Foreign trade

3)A persistent rise in the general level of prices implies
A. An increase in some prices
B. A one time rise in prices
C. That the higher the price level, the more the value of money
D. A steady fall in the purchasing power of money

4)An aspect of taxation that involves normative economics is the
A. Tax rate
B. Fairness of the tax
C. Effect of incentive to work
D. Tax burden

5)A country exporting mainly primary products and a high percentage of her labour force in agriculture is said to be
A. Developing
B. Developed
C. Underdeveloped
D. Poor

6)As a producer's association, the OPEC expects its members to maintain production where marginal cost is
A. Greater than price
B. Equal to average price
C. Equal to price
D. Less than price

1*d 2*c 3*d 4*c 5*b 6*a