2007 OAU Economics Post-UTME

Economics is founded on the principle that:

The capitalist system is characterized by all the following except:

If the equation relating consumption (C) to income (Y) is C = ₦7, 500 + 0.2Y, then

The reason for the law of demand can best be explained in terms of:

The demand curve for the pure monopolists is

Which of the following statements is correct? The Central Bank

Which of the following is not a basic assumption underlying the theory of consumer behaviour

The slope of the budget constraint

Disposable income equals

The ‘terms of trade’ means

The burden of tax on a commodity whose demand is infinitely inelastic

Inflation can be curbed by

The supply and demand for goods and services are influenced by the

In a sole proprietorship, the decisions are made by the

Which of the following are direct taxes?

The production within the domestic territory of a country is called the

A producer sustains a loss in the short run if

Money market differs from capital market in that it.

A production possibility curve shows

The situation in which the total amount of government spending exceeds total revenue is called a:

The maximization of profit tends to be the driving force in the economic decision making of:

Which of the following equations is the correct one about Net National Product (NNP)?

Middlemen in an economy perform the function of

Line E in thediagram below represents: