The rate of exchange between a domestic and a foreign currency is defined as the?

For the improvement of the welfare of a people, a high production level is not enough because

The difference between personal income and personal disposal income is?

<p><img alt="" class="alignnone size-full wp-image-296564" height="115" src="https://data.ulearngo.com/assets/52a32251-a765-48fe-883f-93c0d724e735" width="300"/></p><p>In which of the diagrams above, is the consumer surplus correctly shaded?</p>

<div><table><tbody><tr><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>X</strong></td><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>Y</strong></td><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>Z </strong></td></tr><tr><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (Units)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (Units)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (₦)</strong></td></tr><tr><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">20</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">15</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">40</td></tr><tr><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">15</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">30</td></tr><tr><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">15</td></tr><tr><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">5</td></tr></tbody></table></div><p>Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?</p>

<div><table><tbody><tr><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>X</strong></td><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>Y</strong></td><td colspan="2" style="width: 16.6667%; text-align: center;"><strong>Z </strong></td></tr><tr><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (Units)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (Units)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Price (₦)</strong></td><td style="width: 16.6667%; text-align: center;"><strong>Quantity (₦)</strong></td></tr><tr><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">20</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">15</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">40</td></tr><tr><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">15</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">30</td></tr><tr><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">5</td><td style="width: 16.6667%; text-align: center;">15</td></tr><tr><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">0</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">2</td><td style="width: 16.6667%; text-align: center;">10</td><td style="width: 16.6667%; text-align: center;">5</td></tr></tbody></table></div><p>Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is</p>

<p><img alt="" class="alignnone size-full wp-image-296568" height="164" src="https://data.ulearngo.com/assets/5b76e0b7-d2ef-409b-87b2-42947386813c" width="300"/></p><p>In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?</p>

1987 JAMB UTME Economics Past Questions

The rate of exchange between a domestic and a foreign currency is defined as the?

Economic development is defined as?

For the improvement of the welfare of a people, a high production level is not enough because

Frictional unemployment?

The difference between personal income and personal disposal income is?

In which of the diagrams above, is the consumer surplus correctly shaded?

XYZ Price (₦)Quantity (Units)Price (₦)Quantity (Units)Price (₦)Quantity (₦)02001504021521023051055515100102105Use the following information above to answer this question. X, Y and Z are the only three consumers of a comm…

XYZ Price (₦)Quantity (Units)Price (₦)Quantity (Units)Price (₦)Quantity (₦)02001504021521023051055515100102105Use the following information above to answer this question. X, Y and Z are the only three consumers of a comm…

In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?

Average fixed cost is