Post Utme Economics Past Questions and Answers

Question 586:

The organisation of productive factors is the responsibility of the ____________

A. Management
B. Entrepreneur
C. Production manager
D. Labour union

Question 587:

When the real GDP is increasing then the economy is experiencing?

A. Expansion
B. Peak
C. Recession
D. Trough
E. Stagflation

Question 588:

Which of the following would cause the demand curve for automobiles to shift to the left?

A. An increase in the price of the automobiles
B. An increase in the interest rate paid to borrow money to pay for the automobile
C. An increase in buyers' incomes
D. An increase in the cost of production of automobiles
E. None of the above

Question 589:

Suppose it is announced that industry analysts are predicting that decreased oil supplies from abroad will cause gasoline prices to rise. beginning next month. In the current week the announcement would ____________

A. Shift the supply of gasoline right
B. Shift the demand for gasoline left
C. Shift the demand for gasoline right
D. Have no effect on the demand or supply of gasoline
E. Oil supplies and gasoline are not related

Question 590:

Which of the following would cause the aggregate demand curve to shift to the right?

A. An increase in purchases by the federal government
B. An increase in real interest rates
C. An appreciation of the American dollar
D. A decrease in the money supply
E. All of the above