Post Utme Economics Past Questions and Answers

Question 671:

Which of the following is not a measure for controlling inflation by the central bank?

A. Open market operation
B. Reserve requirements
C. Sale of treasury bills
D. Change of central Bank Governor

Question 672:

A \(50 \%\) increase in the quantity demanded of a commodity, following a \(100 \%\) decrease in its price. shows that the commodity has ____________

A. Fairly elastic demand
B. Unitary elastic demand
C. Inelastic demand
D. Perfectly elastic demand

Question 673:

A total utility is increasing, marginal utility is ____________

A. Negative and decreasing
B. Positive and increasing
C. Positive and decreasing
D. Zero

Question 674:

Which of the following will benefit a producer who wants to maximize profit?

A. Reduce price when demand is inelastic
B. Increase price when demand is elastic
C. \(\mathrm{r}^{2}\) duce price when demand is elastic
D. Fixed the price of his commodity based on the price of other producers.

Question 675:

Based on the fact that demand curve shows the maximum price at which consumers will buy. it then shows ____________

A. Average benefit
B. Marginal benefit
C. Total benefit
D. Optimal satisfaction