Economics Past Questions And Answers
901
The table illustrate the law of
- A. admonishing returns
- B. increasing returns
- C. diminishing marginal utility
- D. increasing marginal utility
902
The grouping of a population into males and females is known as the
- A. geographical distribution
- B. age distribution
- C. sex distribution
- D. man-woman distribution
903
A price floor is usually fixed
- A. at the equilibrium and causes shortage
- B. above the equilibrium and causes shortage
- C. below the equilibrium and causes shortage
- D. above the equilibrium and causes surplus
904
income elasticity of demand is measurement of the responsiveness of
- A. price to change in income
- B. quantity demanded to change in income
- C. change in expenditure to change in income
- D. change in expenditure to change in price of the commodity
905
In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand
- A. elastic
- B. inelastic
- C. perfectly elastic
- D. unitary elastic
906
international trade is different from internal trade because of the
- A. manufactured goods involved
- B. currency differentials
- C. homogeinty of products
- D. heterogeinty of products
907
The Central Bank can restrict credit through
- A. depreciation of assets
- B. granting overdraft
- C. direct investment
- D. open market operation
908
the organisation of productive factors is the reponsibility of the?
- A. management
- B. entrepreneur
- C. production manager
- D. labour union
909
In production , the formula total product/number of men employed is used to calculate
- A. total product
- B. average product
- C. marginal product
- D. fixed product
910
An increase in total production (real GDP) causes the demand for money to ______and the interest rate to _________
- A. Increase; decrease
- B. Decrease; decrease
- C. Increase; increase
- D. Decrease; increase