Post Utme Economics Past Questions and Answers

Question 316:

Retailers in an economy perform the function of ____________

A. Production
B. Exchange
C. Distribution
D. Hoarding
E. Investment

Question 317:

For two substitute goods, the cross elasticity of demand is ____________

A. Greater than one but less than two
B. Zero
C. Negative
D. Positive
E. Infinity

Question 318:

The Central Bank instrument of control does not include ____________

A. Open market-operations
B. Moral sanctions
C. Reserve requirement
D. Selective credit control
E. Printing banknotes

Question 319:

A tax imposed on goods manufactured within a country is called ____________

A. Property tax
B. Capital gains tax
C. Income tax
D. Excise tax

Question 320:

In the event of a limited liability company going into liquidation, each ____________

A. Shareholder holder may lose the maximum of the amount he has invested
B. Shareholder losses nothing loses everything including his house
C. Shareholder's liability becomes unlimited
D. Shareholder will lose the amount he has invested plus a proportion of his bank account