Economics Past Questions And Answers
1401
A country that is over-populated will face the problem of
- A. Low birth rate
- B. Low per capita income
- C. High wage rate
- D. Full employment
1402
From the table calculate the national income
- A. N18,500m
- B. 19,000m
- C. 19,500m
- D. 20,500m
1403
A demand which gives rise to the reverse of the law of demand is__________
- A. Derived demand
- B. Joint demand
- C. Abnormal demand
- D. Composite demand
1404
Which of the following is a disadvantage of large scale production?
- A. market economies
- B. managerial economies
- C. personal organization
- D. division of labour
1405
Which of the following is the approximate working agent in Nigeria?
- A. 1 - 15
- B. 15 - 65
- C. 30 - 40
- D. 40 - 65
1406
Which of the following factors is the most important in siting a petrol-chemical plants?
- A. Nearness to the source of raw materials
- B. Nearness to the source of power
- C. Availability of labour
- D. Proximity to financial institutions
1407
Which of the following is not a characteristic of a developing country? High
- A. real per capita income
- B. level of primary production
- C. population growth rate
- D. level of illiteracy
1408
Which of the following is true about the value of money?
- A. it varies inversely with the price level
- B. it varies directly with the price level
- C. it depreciates in the period of deflation
- D. it is not affected by the price level
1409
Money will serve as a standard of deferred payment if it is
- A. homogeneous
- B. durable
- C. easily recognized
- D. stable in value
1410
If an increase in the price of good X leads to an increase in the supply of good Y, X and Y are said to be
- A. jointly supplied
- B. competitive
- C. composite
- D. jointly demanded