Post Utme General Paper Past Questions and Answers

Question 776:

The quantity Theory of Money states that an increase in the quantity of money would bring about ____________

A. A geometrical rise in prices
B. An unequal rise in price
C. A proportionate rise in price
D. An absolute rise in price

Question 777:

Under the sociallst economy, the decision on what to produce Is determined by the ____________

A. Producers
B. Level of expected profit
C. Price
D. Government

Question 778:

Terms of trade simply means the price ____________

A. Ratio of import to export
B. Ratlo of export multiplied by import
C. Ratio of export to import
D. Ratlo of export multiplled by price ratio of import

Question 779:

In perfect competitlon, the marginal cost curve intersects the average cost curve ____________

A. From below at its lowest point
B. From above at its lowest point
C. From below before the lowest point
D. At the zero point

Question 780:

International trade takes place because of differences in ____________

A. Production cost
B. Language
C. Government
D. Currency