Post Utme Economics Past Questions and Answers

Question 141:

Adding government and foreign sector to the circular flow of income and product ____________

A. Does not disturb the basic qualities of the circular flow
B. Does alter the basic qualities of the circular flow
C. Is the basis for understanding the circular flow
D. Disturbs the understanding of the circular flow

Question 142:

Consumption plus investment plus government purchases plus net exports make up ____________

A. National income
B. Net national income
C. Net national product
D. National product

Question 143:

The role of the Central Bank in the economic development of Nigeria is to ____________

A. Use cheques and bank drafts to facilitate business transactions
B. Maintain a stable price system
C. Give short- and medium-term loans to the public
D. Give financial and technical advice to customers

Question 144:

The average tax rate is defined as ____________

A. Total tax rate less the marginal tax rate
B. The tax rate which applies to additional value of income
C. The ratio of the total taxes paid to total income
D. Marginal tax rate for being progressive

Question 145:

Which of the Following is a good example of invisible item, on balance of payments account?

A. Shipping and aviation
B. Exports and imports
C. Merchandise
D. Bullion