Post Utme Obafemi Awolowo University Economics Past Questions and Answers

Question 1:

Positive checks as envisaged by Thomas Malthus can be prevented if ____________

A. Death rate is reduced
B. Marriage is abolished
C. More hospitals are built
D. Moral restraint is adopted.

Question 2:

Business organizations in which the owners' personal property may be forfeited in the event of bankruptcy are ____________

A. Partnerships and limited liability companies
B. Partnerships and sole proprietorships
C. Cooperatives and limited liability companies
D. Corporations and sole proprietorships

Question 3:

The factors responsible for the current inflationary pressures in Nigeria is the ____________

A. Exchange rate depreciation
B. Increase in exports
C. Low per capital income
D. Budget surplus

Question 4:

If the marginal utility of the last unit commodity \(\mathrm{X}\) at \(\mathrm{N} 2\) is 16 and that of commodity \(\mathrm{Y}\) at \(\mathrm{N} 4\) is 24 , the consumer will be at equilibrium when ____________

A. The price-quantity ratios are equal
B. Equal amounts of \(X\) and Yare consumed
C. Less of \(\mathrm{Y}\) and more of \(\mathrm{X}\) are consumed
D. Less of \(\mathrm{X}\) and more of \(Y\) are consumed

Question 5:

One of the economic problems of Nigeria today arises from ____________

A. The over utilization of human and natural resources
B. In availability of mineral resources
C. Inadequate manpower resources
D. The underutilization of human and natural resources