Post Utme Economics Past Questions and Answers

Question 491:

Acceptance to the theory of comparative advantage, specialization will result in ____________

A. Labour-intensity method of production
B. Capital-intensity method of production
C. Efficient allocation of resources
D. Efficient distribution of output

Question 492:

Dumping in international trade means selling a good at a ____________

A. Higher price at home than abroad
B. Lower price at home than abroad
C. Price that equates marginal cost with marginal revenue
D. Price above marginal cost abroad

Question 493:

Guided delegation as currently practiced in Nigeria implies that ____________

A. Market forces determine interest and exchange rate
B. Government alone determine interests and exchange rates
C. Market forces and government determine interest and exchange rates
D. Exchange rate is regulate while interest rate is fixed.

Question 494:

An important function of the World Bank is to ____________

A. Provide short-run loans to members
B. Encourage trade between members
C. Promote capital-intensive production
D. Provide long-term loans to members

Question 495:

The mobility of labour is mainly determined by ____________

A. The age workers
B. Government policy
C. Trade unions
D. Wage rate differentials