Post Utme Economics Past Questions and Answers

Question 681:

The following is the main difference between firm and industry ____________

A. Industry is the group of firms producing related products
B. Industry is the group of firms in the manufacturing sector
C. Industry is the group of firms in different sectors of the economy
D. Industry is the group of firms with a single pressure group

Question 682:

Roles of central bank include the following except ____________

A. Lender of last resort to commercial bank
B. B. Banker to commercial bank
C. Regulator of both the money and capital markets
D. Receipt of government deposits

Question 683:

If salary of worker increases from 50,000 Naira to 80,000 Naira and average price of certain commodities consumed by the worker increase from 120 Naira to 160 Naira then ____________

A. The nominal income increases but leave the real income constant
B. The real income increases, but nominal income has reduced
C. The real income increases. but real income decreases
D. Both the nominal and real income increase

Question 684:

Ordinary shareholders and preferential shareholders are different because ____________

A. Preferential shareholders participate and can vote and be voted for during the AGM
B. Ordinary shareholders are given priority in case the company is liquidated
C. Preferential shareholders are given prominent shareholders than ordinary shareholders
D. Ordinary shareholders are the core shareholders in the company

Question 685:

Yam and palm oil are used together; therefore ____________

A. Yam is a substitute good while palm oil is a complimentary good
B. Yam is complimentary good while palm oil is a substitute good
C. Yam and palm oil are complimentary goods
D. Yam and beans are substitute goods