Adex097: YOUR SCORE:2/5. Check mr goodboys work..the guy killed it

Goodboy2012:
ok! Is he a student of UI,dept of econs ?

Goodboy2012:

1.D During inflation,money loses its value,even borrowers gain!So if u'r saving ,u'r jus jonzin;Remember in zimbabwe in 2008, wen a wheel barrow full of money was used to buy a loaf of bread ...
2.E Measure of value is a function of money,and not feature !
3.D.. Surely, d demand 4 labour will increase cause of d increase in wage rate,which will lead to excess supply of labour;As such,unemployment will arise because at higher wage rate, labourers will want to supply labour but Employers will only be able to hire few,Unemployment den is inevitable!
4.A They make abnormal profits in d short run but The entrance of new firms will make them make normal profits in d long run!
5.D its Self Explanatory !

Adex097: Alright let's go back to business



1).Money becomes a very poor store of value in a period of
(a)deflation
(B)stable prices
(C)recession
(D)inflation
(E)harvest

2).Which of the following does not belong in respect of the quality of money?
(A)durability
(B)divisible into the smallest units of value
(C)portable
(D)identifiable by all
(E)measure of value

3). One of the probable effects of an increased minimum wages in Nigeria is
(A)to create voluntary unemployment
(B)to decrease the wage rate
(C)to increase the level of employment
(D)to create involuntary unemployment
(E)to increase the demand for labour

4). In the long run, a firm in a competitive market will make
(A)normal profit
(B)abnormal profit
(C)marginal profit
(D)no profit

5).Taxes and government expenditure are instruments of
(A)monetary policy
(B)tax policy
(C)economic policy
(D)fiscal policy

Tolanyb: Nice work 4rm u all... Kip it rolling

Goodboy2012: Q(x)= 20-4p
where x is either quantity supply or quatity demand ...
a)is d above function a Supply function or demand function?
b)why did u pick d anwser u chose in a ?

emekakelvin: mr goodboy.first of all,gud evening. (a)it is a demand function. (b)given functhon Q(x) :20--4p. When p is 5(just an illustration) the quantity demanded is 0,but when p is 4,the quantity demanded is 4.with the above illustration,the above FUNCTION goes with d demand law. So, it is a demand function. I hope i got this rite Mrgoodboy2012

emekakelvin: mr goodboy.first of all,gud evening. (a)it is a demand function. (b)given functhon Q(x) :20--4p. When p is 5(just an illustration) the quantity demanded is 0,but when p is 4,the quantity demanded is 4.with the above illustration,the above FUNCTION goes with d demand law. So, it is a demand function. I hope i got this rite Mrgoodboy2012

Goodboy2012:
very good .. Well done ... Correct !
Just to add 2 wat he said,it's a demand functn because d negative sign dere shows dere is an inverse relationship btw price and Quantity... If it were 2 be 10+2p ; dat surely relates 2 supply because at higher price ,suppliers will b willin 2 supply more,meaning dere is a positive relatnship btw price nd Qty ...MR emekakelvin,weldone once again...
Peace out!!!

Sir Bussy: 1.D 2.E 3.C 4.A 5.D

Adex097: 1) Age group(yrs) | Food production
(Million). | (million)
_____________________________
50 | 220
70 | 210
90 | 225
100 | 275

In the data above, what is the optimum population?
A)50
B)70
C)90
D)100

(NB: if you don't understand the data arrangement
Above, you are permitted to skip the question )


2).The migration of young people from rural to urban areas in Nigeria should help to raise the
A)standard of living in the urban areas
B)total productivity of labour in the rural areas
C)marginal productivity of labour in rural areas
D)marginal productivity of labour in urban areas

3). The U-shape of the long run average cost curve can be explained by the
A)law of increasing returns
B)law of constant returns
C)law of diminishing returns
D)concept of economies and diseconomies of scale

4). A firm with marginal cost equal to its marginal
revenue will produce the equilibrium output if its
in
A)pure competition only
B)pure monopoly only
C)monopolistic competition only
D) any type of market

5). Farmers income may fall of they produce more
Cash crops for export because
A) foreign demand is in-elastic
B) the price of the crops will rise
C) of domestic currency depreciation
D) of export duties

6). The Nigerian trust fund is managed on behalf
Of nigeria by the
A) world bank
B) international monetary fund
C) african development bank
D) economic independency



GOOD LUCK!!!

Adex097: 1) Age group(yrs) | Food production
(Million). | (million)
_____________________________
50 | 220
70 | 210
90 | 225
100 | 275

In the data above, what is the optimum population?
A)50
B)70
C)90
D)100

(NB: if you don't understand the data arrangement
Above, you are permitted to skip the question )


2).The migration of young people from rural to urban areas in Nigeria should help to raise the
A)standard of living in the urban areas
B)total productivity of labour in the rural areas
C)marginal productivity of labour in rural areas
D)marginal productivity of labour in urban areas

3). The U-shape of the long run average cost curve can be explained by the
A)law of increasing returns
B)law of constant returns
C)law of diminishing returns
D)concept of economies and diseconomies of scale

4). A firm with marginal cost equal to its marginal
revenue will produce the equilibrium output if its
in
A)pure competition only
B)pure monopoly only
C)monopolistic competition only
D) any type of market

5). Farmers income may fall of they produce more
Cash crops for export because
A) foreign demand is in-elastic
B) the price of the crops will rise
C) of domestic currency depreciation
D) of export duties

6). The Nigerian trust fund is managed on behalf
Of nigeria by the
A) world bank
B) international monetary fund
C) african development bank
D) economic independency



GOOD LUCK!!!

Adex097: 1) Age group(yrs) | Food production
(Million). | (million)
_____________________________
50 | 220
70 | 210
90 | 225
100 | 275

In the data above, what is the optimum population?
A)50
B)70
C)90
D)100

(NB: if you don't understand the data arrangement
Above, you are permitted to skip the question )


2).The migration of young people from rural to urban areas in Nigeria should help to raise the
A)standard of living in the urban areas
B)total productivity of labour in the rural areas
C)marginal productivity of labour in rural areas
D)marginal productivity of labour in urban areas

3). The U-shape of the long run average cost curve can be explained by the
A)law of increasing returns
B)law of constant returns
C)law of diminishing returns
D)concept of economies and diseconomies of scale

4). A firm with marginal cost equal to its marginal
revenue will produce the equilibrium output if its
in
A)pure competition only
B)pure monopoly only
C)monopolistic competition only
D) any type of market

5). Farmers income may fall of they produce more
Cash crops for export because
A) foreign demand is in-elastic
B) the price of the crops will rise
C) of domestic currency depreciation
D) of export duties

6). The Nigerian trust fund is managed on behalf
Of nigeria by the
A) world bank
B) international monetary fund
C) african development bank
D) economic independency



GOOD LUCK!!!

Adex097: 1) Age group(yrs) | Food production
(Million). | (million)
_____________________________
50 | 220
70 | 210
90 | 225
100 | 275

In the data above, what is the optimum population?
A)50
B)70
C)90
D)100

(NB: if you don't understand the data arrangement
Above, you are permitted to skip the question )


2).The migration of young people from rural to urban areas in Nigeria should help to raise the
A)standard of living in the urban areas
B)total productivity of labour in the rural areas
C)marginal productivity of labour in rural areas
D)marginal productivity of labour in urban areas

3). The U-shape of the long run average cost curve can be explained by the
A)law of increasing returns
B)law of constant returns
C)law of diminishing returns
D)concept of economies and diseconomies of scale

4). A firm with marginal cost equal to its marginal
revenue will produce the equilibrium output if its
in
A)pure competition only
B)pure monopoly only
C)monopolistic competition only
D) any type of market

5). Farmers income may fall of they produce more
Cash crops for export because
A) foreign demand is in-elastic
B) the price of the crops will rise
C) of domestic currency depreciation
D) of export duties

6). The Nigerian trust fund is managed on behalf
Of nigeria by the
A) world bank
B) international monetary fund
C) african development bank
D) economic independency



GOOD LUCK!!!

Emmy35: I'm tayad of reading. I have 2 tests(Gns101 nd Pol103) on Monday and i still have 2 read for Jamb. I'm fed up!!!!!!

emekakelvin: (1)d (2)d (3)b (4)d (5)d (6)c. If i get one Glory be to God

michaeltotti: 1.a.2.d.3.c.4.a.5.d.6.c

adetola31: 1, 2b, 3c, 4b, 5a, 6a.

aragbs4real05: 1.A 2.D 3.A 4.A 5.D 6.C pls correct me if am wrong.. thnkz

aragbs4real05: pls which skool are u? And what is ur jamb subjct coombinations?

Adex097: Wow!!!! Nobody scored upto 4.buh u guys tried sha...more technical questions coming soon

emekakelvin: The system of measurement of national income as the sum of all final demand is (a)income method (b)expenditure method (c)value added method (d)final demand approach. Pls explain ur answer briefly.

Emmy35: Technical questions ke? The questions here r already too technical jor. I really need 2 sit up in Econs oh cos questions in Econs look like Yoruba 2 me. By God's grace, i'll get above 66 in Econs

Adex097: (2)d (3)d (4)d (5)c (6)c ...score=0/5