Post Utme Economics Past Questions and Answers

Question 181:

The value of the multiplier depends on ____________

A. MPC and a level of income
B. Level of personal income
C. Level of personal savings
D. Government policy and MPC

Question 182:

External diseconomies of scale result from excessive growth of ____________

A. The whole industry
B. Some sectors of the industry
C. External factors
D. Internal factors

Question 183:

In the short run, a firm’s marginal cost curve above the point of shut-down is its ____________

A. Demand curve
B. Supply curve
C. Revenue curve
D. Cost curve

Question 184:

In a planned economy, the emphasis is on ____________

A. Public ownership and control
B. Prices and competition
C. Individual choices and decisions
D. Private ownership and control

Question 185:

To compare the standard of living among nations, the most widely used economic indicator is the ____________

A. Real domestic output
B. Real gross national income
C. Real per capital income
D. Per capital nominal income