Economics Past Questions And Answers
2961
In economic life, choice among alternatives depends on the?
- A. income of the decision maker
- B. scarcity of resources
- C. scale of preference of the decision maker
- D. status of the decision maker
2962
A strategy for curbing unemployment is to
- A. implement government stabilization policy
- B. increase taxes and decrease government expenditure
- C. increase government expenditure and decrease taxes
- D. ensure even distribution of job opportunities
2963
Which of the following is part of the capital account of the balance of payments?
- A. net investment from abroad
- B. import of machinery
- C. insurance
- D. transportation cost
2964
Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?
- A. Lowering income taxes
- B. Increasing the discount rate
- C. Increasing the reserve ratio
- D. Buying Treasury securities from commercial banks
2965
In the long run all factors of production are
- A. expensive
- B. variable
- C. durable
- D. fixed
2966
Which of the following crops can be referred to as Nigeria’s current export crops?
- A. Rubber, Groundnuts, Beniseed, cotton.
- B. Shear butter, Sorghum, Onions.
- C. Rubber, Cocoa, Coffee, Palm Kernel
- D. Palm Oil, Palm Kernel, Sugarcane
2967
for two commodities A and B, MA and MB are the respective marginal utilities while PA and PB are the respective prices. Marginal utilities of the commodities are maximized when
- A. MA/PA = MB/PB
- B. MA/PA > MB/PB
- C. MA/PA< MB/PB
- D. PA/MA< PB/MB
2968
The value of money is effected by the
- A. speculative motive
- B. price level
- C. precautionary motive
- D. intervention of development
2969
The losses suffered by a sole proprietor are?
- A. usually equal to the amount invested
- B. usually less than the amount invested
- C. limted to the amount invested
- D. not limited to the amount invested
2970
An accurate population census is important in other to
- A. produce more food for the growing population
- B. provide employment opportunities for the people
- C. estimate a country's per capita income
- D. fast track industrial development