Economics Past Questions And Answers
661
A monopolist can boost up his revenue by
- A. adjusting both price and output upward
- B. reducing total output to match price
- C. increasing price
- D. reducing price
662
In the distribution channels for goods and services, the middleman's mark-up margin provides a rough measure for the ?
- A. quantity discounts allowed final consumer
- B. reward for business entrepreneurship
- C. effectiveness of government control over the economy's marketing channels
- D. extent of exploitation of the final consumer
663
Taxes levied on commodities are
- A. direct taxes
- B. indirect tax
- C. poll tax
- D. investment taxes
664
An important function of the World Bank is to
- A. provide short-run loans to members
- B. encourage trade between members
- C. promote capital-intensive production
- D. provide long-time loans to members
665
Economics is a social science concerned with the proper use and______
- A. production of goods and services
- B. distribution of wealth
- C. allocation of resources for growth
- D. creation of utility
666
In computing national income, transfers are excluded because
- A. they are received only by the poor
- B. the figures reduce the size of national income
- C. it is difficult to get the exact figures
- D. they are not payments for productive activities
667
The main source of government revenue in Nigeria is
- A. import duties
- B. rents and royalties
- C. company income tax
- D. capital gains tax
668
The only factor of production that plays an active role in the production process is
- A. land
- B. capital
- C. entrepreneur
- D. labour
669
Calculate the total number of people engaged in tertiary production from the data below
- A. 5,000,000
- B. 6,250,000
- C. 11,750,000
- D. 12,250,000
670
Tariffs, quotas and embargoes are examples of
- A. trade restriction policies
- B. monetary policies
- C. fiscal policies
- D. foreign exchange policies