Post Utme Economics Past Questions and Answers

Question 441:

In a textile factory, the cost of cotton used is a typical example of ____________

A. An average cost
B. A variable cost
C. A total cost
D. A fixed cost

Question 442:

Black market can occur when ____________

A. Supply is in excess of demand
B. Consumption of the commodity is restricted
C. Prices are set by government above the equilibrium
D. Prices are set by government below the equilibrium

Question 443:

Which of the following items is under the capital account of a balance of payments?

A. Repayments of foreign loans
B. Visible imports
C. Invisible exports
D. Cocoa exports

Question 444:

A surplus in the balance of payments should be used to ____________

A. Subsidize multinational companies
B. Build infrastructure for friendly notions
C. Make donation developed countries
D. Buy investments overseas

Question 445:

In calculating the national income of a country, the cost of both raw materials and the finished products were included. This is a case of?

A. A double counting
B. Price fluctuations
C. Price differentiation
D. Price discrimination