Post Utme University of Calabar Economics Past Questions and Answers

Question 6:

Factors of production can be described as the ____________

A. Resources required for the provision of goods and services
B. Skills involved in deciding and directing the flow of goods
C. Monetary tools employed by government to ensure stable production
D. Elements involved in the process of formulating polices on production

Question 7:

The systemic record of the various levels and types of economic activities is Called ____________

A. Gross national product
B. National income accounting
C. The budget
D. Census.

Question 8:

When the rate of inflation increases ____________

A. Savings will increase
B. Income will increase
C. Savings will decrease
D. Prices will decrease

Question 9:

The tax imposed on goods manufactured within a country is called ____________

A. Value added tax
B. Capital gains tax
C. Excuse tax
D. Profit tax

Question 10:

One of the criticisms against delegated legislation is that it ____________

A. Gives too much power to all organs of government
B. Enhances separation of powers
C. Encroaches on parliamentary power
D. 1s not practised in advanced countries