Post Utme Economics Past Questions and Answers

Question 191:

A firm operating at full capacity will have a ____________

A. Perfectly inelastic supply curve
B. Perfectly elastic supply curve
C. Fairly elastic supply curve
D. Fairly inelastic supply curve

Question 192:

The movement of people from rural to urban areas affects the distribution of ____________

A. Occupational population
B. Sex distribution of population
C. Geographical distribution of population
D. Age distribution of population

Question 193:

The export-promotion strategy is aimed at producing ____________

A. Consumer goods originally imported
B. Machinery for industries
C. More goods for exports
D. More goods for domestic consumption

Question 194:

A tax is regressive if the ____________

A. Rate of tax is constant at all income levels
B. Rate of tax decreases as income increases
C. Rate of tax increases as income increases
D. Tax is direct rather than indirect

Question 195:

The type lot-business organization in mostly used for producing public goods in Nigeria is ____________

A. Sole proprietorships
B. Limited liability companies
C. Co-operative societies
D. Statutory corporations