Post Utme Economics Past Questions and Answers

Question 836:

When a nation's export are greater than its imports.

A. The net foreign trade is zero
B. An unfavourable balance of payments exists
C. A favourable balance of trade exists
D. A favourable balance of payment exists

Question 837:

Inflation is likely to benefit ____________

A. Persons with banks savings
B. Persons who live on fixed pension funds
C. Creditors
D. Debtors

Question 838:

For which market model is there a very large number of rims?

A. Monopolistic competition
B. Oligopoly
C. Pure monopoly
D. Pure competition

Question 839:

Which of the following is an economic cost ____________

A. Uninsurable risk
B. Normal profit
C. Economic profit
D. Monopoly

Question 840:

Which tends to be progressive tax in Nigeria?

A. Income tax
B. Property tax
C. Sales tax
D. Import duties