Economics Past Questions And Answers
2171
The unemployment associated with decrease in demand is referred to as
- A. Disguised
- B. Imposed
- C. Cyclical
- D. Voluntary
2172
Every economy requires an accurate census because it assist in?
- A. solving inflation problem
- B. providing a sound framework for policy formulation
- C. stimulating economic activities in the national economy
- D. solving unemployment problem
2173
If demand increases without a change in supply, equilibrium price and quantity will
- A. remain unchanged
- B. shift inward
- C. fall
- D. rise
2174
Among the disadvantages of the one-man business is the fact that______
- A. its capital may not be increased without government permission
- B. the proprietor is personally liable for the firm's debts
- C. the proprietor is not able to obtain credit
- D. the proprietor may not sue for bad debts
2175
when the total products is at its maximum marginal products is
- A. increasing
- B. positive
- C. negative
- D. zero
2176
The table below shows a demand schedule for eggs. What is the equilibrium price?
- A. N 100
- B. N110
- C. N60
- D. N80
2177
Greater inter-dependence among workers in production is associated with
- A. utility
- B. manufacturing
- C. division of labour
- D. factory workers
2178
A country whose economy is buoyant is likely to have
- A. a weak currency
- B. devaluation from time to time
- C. a strong currency
- D. balance of payment problem
2179
A list of consumer's wants arranged in order of priorities is known as
- A. a budget
- B. an opprotuniy cost
- C. A scale of preference
- D. choice
2180
Occupational mobility as applied to factors of production means the ease by which
- A. factors can be transferred from one form of use to another
- B. resources can be transferred from one place to another
- C. resources can be transformed from one form to another
- D. factors can be transferred from one place to another