Post Utme Economics Past Questions and Answers

Question 36:

Economic analyses and conclusions can be divided into ____________

A. Consumption and production beg
B. Positive and normative
C. Microeconomics and macroeconomics
D. Demand and supply
E. None of the above

Question 37:

Which of the following is NOT a measure of central tendency?

A. Mean
B. Median
C. Mode
D. Average
E. Standard deviation

Question 38:

Which of the following is NOT a measure of dispersion

A. Standard deviation
B. Mean deviation
C. Variance
D. Range
E. Mean

Question 39:

A normal good with close substitutes is likely to have its price elasticity of demand ____________

A. Between zero and one
B. Equal to unity
C. Greater than unity
D. Less than unity
E. None of the above

Question 40:

Demand for a factor of production is ____________

A. A composite demand
B. A joint demand
C. A derived demand
D. An elasticity of demand
E. Cross elasticity of demand