Post Utme Economics Past Questions and Answers

Question 326:

Short- run period in production is a period too short for a firm to be able to change its ____________

A. Scale of operation
B. Total revenue
C. Variable inputs
D. Total outputs

Question 327:

At a point, firms stop growing because of ____________

A. Poor infrastructural development
B. Limited managerial ability available to the enterprise
C. Rise in cost resulting from complexity that is consequent on expansion
D. All of the above

Question 328:

A bank will want to hold fewer excess reserves (all things been equal) when ____________

A. It expects to have deposit inflows in the near future
B. Brokerage commissions on selling bonds rise
C. It expects the supply of money to increase
D. It expects interest rate to fall

Question 329:

A country that can produce more of a good or service than another country with the same amount of inputs is said to have a/an ____________

A. Comparative advantage
B. Output advantage
C. Production advantage
D. Absolute advantage

Question 330:

The function of money as a standard of deferred payment ____________

A. Makes it possible for an individual to build up stores of many things for future use
B. Makes it possible for payments to be postponed from the present to a future date
C. Facilitates the exchange of goods and services
D. Makes easy calculations possible