Post Utme Economics Past Questions and Answers

Question 626:

Equilibrium in the financial market requires that ____________

A. Mon-ey supply equals money demand
B. Money supply equals reserves demand
C. Checkable deposits equal overall supply of money
D. Money supply equals overall demand for money

Question 627:

Which of the following will cause a decrease in marker equilibrium price and increase in markel equilibrium quantity?

A. An increase in supply
B. An increase in demand
C. A decrease in demand
D. A decrease in supply

Question 628:

A consumer has \(\mathrm{N} 100\) of income to spend on goods \(X\) and 1 \(\mathrm{Y}\). The price of \(\operatorname{good} \mathrm{X}\) is \(\mathrm{N} 10\), and the price of \(\operatorname{good} \mathrm{Y}\) is \(\mathrm{N} 2\). Which of the following combinations of \(X\) and \(Y\) are not affordable?

A. \(10 \mathrm{X}\) and \(0 \mathrm{Y} \quad\)
B. \(6 \mathrm{X}\) and \(25 \mathrm{Y} \quad\)
C. \(4 \mathrm{X}\) and \(20 \mathrm{Y} \quad\)
D. \(5 \mathrm{X}\) and \(25 \mathrm{Y}\)

Question 629:

As percentage of labour force, the unemployment rate measures ____________

A. The number of people in an economy who do not have jobs
B. The number of people in an economy who have jobs
C. The number of people who are out of work and actively looking for work
D. The number of people who are looking for work

Question 630:

Which of the following statement is true of a monopoly markets?

A. Barrier to entry exists in the short-run, but not in the long-run
B. Price is greater than marginal revenue but less than marginal cost
C. Demand is more elastic than the demand for a perfectly competitive firm's output
D. Demand for the firm's product is also the market demand for the product