Post Utme Economics Past Questions and Answers

Question 576:

Which of the following items is not an example of Circulating capital?

A. Raw material
B. Money
C. Fuel
D. Machinery.

Question 577:

If the coefficient of cross elasticity of demand for goods \(Y\) and \(Z\) is positive, the two goods are ____________

A. Complements
B. Substitutes
C. Luxuries
D. Inferior

Question 578:

Equity shares form the bulk of the capital of a ____________

A. Private company
B. Public company
C. Statutory company
D. Limited partnership.

Question 579:

When a firm is enjoying internal economies of scale, its ____________

A. Total cost of production is increasing as nutput increases
B. Average fixed cost is rising continuously
C. Average cost of production decreases as output increases
D. Average revenue and marginal revenue are decreasing.

Question 580:

Which of the following is most likely to be of benefit to a debtor?

A. Infiation
B. Deflation
C. Revaluation
D. Monetization