Post Utme Economics Past Questions and Answers

Question 431:

One of the causes of the present high rate inflation in Nigeria is ____________

A. Increasing budget surplus
B. Increasing factor costs
C. Exchange rate appreciation
D. High capacity utilization

Question 432:

The final stages in the production process of any commodity involve the movement from the ____________

A. Retailer to the wholesaler
B. Producer to the wholesaler
C. Retailer to the consumer
D. Wholesaler to the retailer

Question 433:

A change in demand for a normal good means ____________

A. A shift in the demand curve
B. A change in the price elasticity
C. The demand changes as price changes
D. A movement along a given demand curve

Question 434:

Given the cost function C = 160 + 36Q, what is the average cost of 20 units of output

A. N720.00
B. 216.00
C. N4.00
D. N880.00

Question 435:

Which of the following financial institutions was originally known as a national debt?

A. Development bank
B. Insurance company
C. Mortgage bank
D. Merchant bank