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Economics Past Questions and Answers

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Economics Questions

Question 651:

In an inflationary period which of the following statements is NOT true?

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A Wages rise simultaneously with prices
B The purchasing power of money diminishes
C More money runs after a limited quantity of goods
D Money supply increases
E Aggregate real demand exceeds aggregate real supply

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Question 652:

Retailers in an economy perform the function of

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A Production
B Exchange
C Distribution
D Horading
E Investment

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Question 653:

In a sole proprietorship, the decisions are made by the?

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A Governmnet
B Borad of directors
C Management
D Shareholders'conference
E Owner

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Question 654:

Which of the following enterprises does NOT pursue the sole objective of profit maximization?

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A Roads of Nigeria Ltd
B Union Bank of Nigeria Ltd
C Nigeria Electric Power Authority
D Volkswagen (VW) Nigeria Ltd
E Kingsway Nigeria Ltd

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Question 655:

Public expenditure creates expansionary effects in the economy when it is

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A In excess of government revenue
B Channelled into capital products
C Diverted into imports
D Financed through part of the year's total collection of taxes

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