Post Utme Economics Past Questions and Answers

Question 651:

Which of the following is NOT a limited relevance of commodity money ____________

A. Costliness of transaction
B. It limits market size
C. It hampers specialization
D. It is held as a store of wealth

Question 652:

GDP per capital is ____________

A. GDP/labour force
B. GDP/population
C. GDP/unemployed
D. GDP/working population

Question 653:

The best measure of economic well - being in any economy is ____________

A. GDP per capita
B. GDP
C. GNP
D. National Income

Question 654:

All these are example of biases in using GDP or GNP to measure economic well-being except ____________

A. Population growth
B. Price changes
C. Non-market activities
D. Market activities

Question 655:

The difference between economic growth and economic development is that the latter deals with ____________

A. Economic growth and structural change
B. Economic growth and output change
C. Economic growth and GDP change
D. Economic growth and income change