Post Utme Economics Past Questions and Answers

Question 691:

Change in demand and change in quantity demanded are not the same because ____________

A. All factors affecting change in demand also affect change in quantity demanded except income
B. All factors affecting change in demand are not affecting change in quantity demanded except income
C. Many factors leads to change in demand but only change in price affect change in quantity demanded
D. Many factors leads to change in demand but only change in income affect change in quantity demanded

Question 692:

Discount rate means ____________

A. Rate at which money are borrowed from commercial bank
B. Rate at which bank received deposit from the public
C. Central bank rate on the money borrowed by commercial banks
D. Commercial bank rate on the money borrowed from other commercial bank

Question 693:

When the government expenditure and income are the same in a fiscal year, this is referred as ____________

A. Net balance
B. Zero balance budget
C. Balanced budget
D. Net income

Question 694:

Inflation as a result of increase in the payment for factors of production is called ____________

A. Cost-pull inflation
B. Demand-push inflation
C. Cost-push inflation
D. Demand inflation

Question 695:

The difference between the output proceedings of Nigerians abroad and foreigners in Nigeria is known as ____________

A. Net export to abroad
B. Net import from abroad
C. Net income from abroad
D. Net income to abroad