Post Utme Economics Past Questions and Answers

Question 211:

The primary problem of Economics is ____________

A. To obtain a more equitable distribution of money income
B. Production of a given output with the lowest cost combination of factors of production
C. Adoption of capital-intensive technology
D. Increasing the quantity of the fixed factor of production

Question 212:

In estimating the national income of a country, the three approaches usually adopted are the ____________

A. Expenditure, value-added and output
B. Income, final product and output
C. Expenditure, income and output
D. Avoidance of double counting, final expenditure and value-added

Question 213:

The natural growth rate of a population is the ____________

A. Sum of the birth rate and the death rate
B. Sum of the birth rate and the net migration
C. Birth rate minus death rate
D. Birth rate divided by net migration

Question 214:

Localization of industries refers to the ____________

A. Tendency to concentrate industries in particular areas
B. Sitting of industries in certain areas
C. Deliberate policy of influencing location of industries generally
D. Zoning of industries

Question 215:

GDP differs from GNP because GDP ____________

A. Is inclusive of depreciation
B. Emphasizes the final goods and services produced within the country at a particular period
C. Emphasizes the goods and services produced within the country
D. Emphasizes the market value of all final goods and services produced by nationals