Post Utme University of Port Harcourt Economics Past Questions and Answers

Question 16:

A major shortcoming of the sole proprietorship form of business is lack of ____________

A. Working capital
B. Patronage
C. Continuity
D. Market

Question 17:

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of ____________

A. Lack of an effective agricultural policy
B. Employment opportunities in the oil sector
C. Rural urban drill
D. Iow prices of agricultural product

Question 18:

The most important goal of OPEC is to ____________

A. Present a united front for the purpose of raising process of crude oil
B. Bring unity among the petroleum exporting states
C. Ensure political stability among member states
D. Ensure that rules on quota production are strictly followed

Question 19:

Banks can create more money by ____________

A. Increasing its cash ratio with the central bank
B. Issuing more bank cheques
C. Accepting more deposits from customers
D. Lending out more money from customers deposits

Question 20:

If the marginal propensity to consume is 0.75 and private investment increases by ₦10 billion while government expenditure decreases by ₦15 billion GDP will decrease by ____________

A. #12 billion
B. #15 billion
C. #20 billion
D. #25 billion