Economics Past Questions And Answers
Which of the following causes the demand curve to shift to the right?
- A. a reduction in size of population
- B. an increase in the income of the buyer
- C. the availability of substitutes
- D. a decrease in price of goods
Localization of industry refers to the
- A. conentration of the firms of an industry in a particular area
- B. siting of industries in rural areas
- C. even spread of industries
- D. governement policy of influencing
When an increase in inputs leads to a more than proportionate increase in output, there is
- A. decreasing returns to scale
- B. Increase in marginal product
- C. increasing retums to scale
- D. constant retums to scale
Which of the following is a major advantage of establishing a tomato-processing factory in a country?
- A. Local consumption will decrease
- B. More unskilled labour will be employed
- C. Foreign exchange will be conserved
- D. It will attract more tourists
which of the following activities will not lead to economic growth?
- A. massive importation of capital goods
- B. intensive capital formation locally
- C. use of modern technology
- D. massive importation of consumer goods
The economic policy of privatization came up as a result of the poor performance of
- A. commercial banks
- B. small-scale businesses
- C. public enterprises
- D. private enterprises
One of the major factors militating against industrialization in Nigeria is the?
- A. inadequacy of infrastructural facilities
- B. absence of government participation
- C. frequent breakdown of equipment
- D. failure to get foreign partners and supporters
The difference between the Gross Domestic Product (GDP) and the Gross National Product (GNP) is the
- A. allowance for total depreciation
- B. total interest payment
- C. net income from abroad
- D. total tax and interest payment
Equilibrium in the financial market requires that
- A) money supply equals money demand
- B) money supply equals reserves demand
- C) checkable deposits equal overall supply of meny
- D) money supply equals overall demand for money Related Lesson: Supply of Money | Mo
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about
- A. a geometrical fall in prices
- B. a proportionate fall in prices
- C. a rise in prices
- D. an unequal fall in prices