Post Utme Economics Past Questions and Answers

Question 261:

An aspect of taxation that involves normative economics is the ____________

A. Tax rate
B. Effect on incentive to work
C. Fairness of the tax
D. Tax burden
E. None of the above

Question 262:

An advanced environmental impact of the petroleum industry on the economy is ____________

A. The vandalization of oil equipment
B. Oil spillage
C. Communal riots
D. Community development

Question 263:

A major cause of the slow space of industrialization in Nigeria is inadequate

A. Skilled labour
B. Communal labour
C. Raw materials
D. Landmass

Question 264:

If there is an increase in demand without a corresponding increase in supply, there will be a ____________

A. Rise in price
B. Shift in demand curve to the left
C. Fall in price
D. Shift in supply curve to the right

Question 265:

The excess of aggregate expenditure over full employment level of output is referred to as ____________

A. GNP gap
B. Deflationary gap
C. Recessionary gap
D. Inflationary gap