Economics Past Questions And Answers
2531
The primary barrier to land reform in developing countries is the?
- A. frequent opposition by the landlords
- B. realization that output levels might fall
- C. fear that peasants will be cut off from credit
- D. general contentment with the present arrangement
2532
which of the following is not a reason for abnormal demand
- A. price of the commodity
- B. goods of ostentation
- C. giffen goods
- D. rare commodity
2533
In computation of GDP, the following are not included except
- A) all final goods produced and sold within the country
- B) all used good or goods sold outside of traditional market
- C) all produce from home gardens that is grown and consumed by household
- D) all the farm products that farmers exchange among themselves without ever being sold
2534
which of the following sector is most capital intensive?
- A. insurance
- B. petroleum
- C. commerce
- D. tourism
2535
One of the problems facing industrial development in West African countries is
- A. inadequate large market
- B. inadequate infrastructure
- C. inadequate supply of labour
- D. unavailability of natural resources
2536
Among all the determinants of economic growth, the most important one is
- A. Human capital
- B. Increased GDP
- C. Land and Natural resources
- D. Technologies
2537
Which of the following is not an objective of the Indigenisaton policy in Nigeria? To
- A. Make Nigerians dominate their economy
- B. increase Nigerians participation in the economy
- C. prevent foreign monopoly of the economy
- D. eliminate foreign participation in the Nigerian economy
2538
Macroeconomics focuses on the following units in an aggregative manner
- A. household, firms, government, corporate sector and external sector
- B. individual consumers, individual firms, government and external sector
- C. government, household firms, individual consumers and external sector
- D. individual consumers, household firms and manufacturing sector
2539
Marginal cost is?
- A. the lowest cost of producing goods
- B. the cost of production of the most efficient firm in an industry
- C. the cost of production of the most inefficient firm in an industry
- D. the cost of production of the last or extra unit of goods produced by a firm
2540
A characteristic of a debenture is that?
- A. its yeild is based on profits
- B. its yeild is a fixed rate of interest
- C. it has no redemption date
- D. there is a voting right when interest is paid