Economics Past Questions And Answers
2621
Goods that are abundant in supply usually have low
- A. total utility
- B. marginal utility
- C. average utility
- D. time utility
2622
A commercial bank can create money by
- A. issuing currency
- B. increasing cash ratio
- C. issuing cheque
- D. lending to borrowers
2623
In an open economy, the GNP is measured as
- A. C+I+G+X
- B. C+I+G+(X-M)
- C. C+I+G+M
- D. C+I+G
2624
A certain amount of money is needed for everyday expenditure like buying of goods, transportation and others. This is
- A. transaction demand for money
- B. precautionary demand for money
- C. derived demand for money
- D. speculative demand for money
2625
Which of the following is an example of an invisible item on the balance of payments account
- A. shipping and aviation
- B. exports and imports
- C. merchandise
- D. Bullion
2626
increase in the supply of a product can be caused by?
- A. change and taste and fashion of consumers
- B. increase in the income of consumers
- C. a fall in the cost of production
- D. increase in the price of a product
2627
In the long run, the equilibrium point of a monoplistic firm is a point where the
- A. marginal cost curve is tangential to the average fixed cost curve
- B. demand curve is tangential to the average variable cost curve
- C. supply cuvre is tangential to the marginal cost curve
- D. demand curv is tangential to the average cost curve
2628
Which of the following can have their shares quoted on the stock exchange?
- A. Public corporations
- B. A partnership
- C. A consumer corporative
- D. A public limited liability company
2629
An owner-manager of a firm can also be called
- A. a shareholder
- B. an entrepreneur
- C. an employer
- D. a chairman
2630
In the diagram below, the price P2 in price control situation, is referred to as
- A. minimum price
- B. markup price
- C. maximum price
- D. mark-down price