Economics Past Questions And Answers
2591
A central argument of cardinal utility is that utility is?
- A. measurable
- B. psychological
- C. ranked
- D. intangible
2592
The following, may riot inflate the National Income figure
- A) Students
- B) Owners occupied houses
- C) Office Inducement
- D) Intermediate goods
2593
Government revenue from the groundnut industry is from
- A. licences
- B. rents
- C. royalties
- D. taxes
2594
The responsiveness of demand to a change in income is the measurement of
- A. foreign exchange rate
- B. cross elasticity of demand
- C. income elasticity of demand
- D. price index elasticity
2595
If tax takes a large proportion of the income of people with lower income, the tax is
- A. progressive
- B. proportional
- C. regressive
- D. investment
2596
In the agricultural sector, improved extension services facilitate?
- A. acquistion of techniques
- B. arable crop production
- C. mobility of labour
- D. livestock production
2597
Land as a factor of production is made useful through the
- A. application of human effort
- B. acts of nature
- C. application of fertilizer
- D. use of machines
2598
If a 20% rise in price of Whiskey leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is
- A. 3.0
- B. 2.5
- C. 2.3
- D. 1.5
2599
Holding money to take care of contigencies is?
- A. a speculative motive
- B. a transaction motive
- C. a precautionary motive
- D. an expansionary motive
2600
Which of the following is used for measuring national income?
- A. Output, income and wages
- B. Import, expenditure and output
- C. Income, output and expenditure
- D. Export, Import and output