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Question 1 of 26
1. Question
Which of the following statements is false?
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Question 2 of 26
2. Question
If the equation relating consumption (C) to income (Y) is C = ₦7,500 + 0.2Y, then
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Question 3 of 26
3. Question
Which of the following best describes a perfectly inelastic demand function?
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Question 4 of 26
4. Question
Which of the following statements is true?
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Question 5 of 26
5. Question
The demand curve for the pure monopolists is
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Question 6 of 26
6. Question
Which of the following statements is false?
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Question 7 of 26
7. Question
Which of the following statements is true?
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Question 8 of 26
8. Question
The reason for the law of demand can best be explained in terms of:
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Question 9 of 26
9. Question
Which of the following statements is correct? The Central Bank
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Question 10 of 26
10. Question
Which of the following is not a basic assumption underlying the theory of consumer behaviour
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Question 11 of 26
11. Question
Which of the following equations is the correct one about Net National Product (NNP)?
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Question 12 of 26
12. Question
Money market differs from capital market in that it.
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Question 13 of 26
13. Question
A production possibility curve shows
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Question 14 of 26
14. Question
The table above shows the age distribution of a town in Nigeria. What is the dependency ratio of the town?
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Question 15 of 26
15. Question
The situation in which the total amount of government spending exceeds total revenues is called a:
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Question 16 of 26
16. Question
The maximization of profit tends to be the driving force in the economic decision making of:
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Question 17 of 26
17. Question
Which of these factors does not cause a change in demand?
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Question 18 of 26
18. Question
When the demand for a commodity is inelastic, total revenue will fall if
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Question 19 of 26
19. Question
An economic system in which most capital goods are owned by individuals and private firms is known as
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Question 20 of 26
20. Question
Which of the following is the most liquid asset to a commercial bank?
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Question 21 of 26
21. Question
At every point on an indifference curve, the
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Question 22 of 26
22. Question
Which of the following does not hinder the efficient distribution of goods in West Africa?
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Question 23 of 26
23. Question
Which of the following is the most important reason why wages differ among occupations?
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Question 24 of 26
24. Question
Tax incidence is the analysis of
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Question 25 of 26
25. Question
A monopolist will practice price discrimination in two markets if
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Question 26 of 26
26. Question
Which of the following is regarded as fixed cost?
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