Economics Past Questions And Answers
2041
At a co-efficient of price elasticity of supply of 0.5, supply is
- A. perfectly inelastic
- B. inelastic
- C. perfectly elastic
- D. elastic
2042
Govermment in most cases influences the location of firms to
- A. discourage private investors
- B. ensure equitable distribution
- C. reduce the cost of production
- D. make the firms enjoy economies of scale
2043
Which of the following is the resultant effect of a fall in the profit margin of producers in an economy?
- A. Unemployment will fall
- B. Unemployment will remain constant
- C. Unemployment will increase
- D. Unemployment will fluctuate
2044
As a country gets more developed, the percentage of labour engaged in agriculture tends to?
- A. remain constant
- B. decrease steadily
- C. switch over to trading
- D. increase steadily
2045
The effect of emigration on a country's population is
- A. decrease in the population
- B. decrease in job opportunities
- C. increase in population
- D. increase in dependency ratio
2046
The International Monetary Fund (IMF) is an international organization which
- A. gives annual grants to all developing countries
- B. assist countries to solve their balance of payment problems
- C. execute their development projects
- D. help to promote regional economic groupings
2047
Malthus' contention is that
- A. population increase in arithmetic progression while food production increased in geometric progression
- B. population increased in geometric progression while food production increased in arithmetic progression
- C. population and food growth rate will, in future, be at par
- D. nations have to get enough manpower to cultivate available land for food
2048
Which of the following is likely to reduce a surplus in the balance of payments of a country?
- A. Devaluation
- B. Increased tariff on imports
- C. Export promotion
- D. Currency appreciation
2049
The location of iron and steel industry at a place is due to
- A. easy access to raw materials
- B. access to cheap labour
- C. government policy
- D. good infrastructure
2050
Stocking small quantities of a variety of goods is a function of the?
- A. manufacturer
- B. wholesaler
- C. retailer
- D. consumer