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Wednesday, 08 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 871:
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
  • A Elastic
  • B Inelastic
  • C Perfectly elastic
  • D Unitary elastic
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Question 872:
A budget with a projected revenue in excess of its expenditure is said to be?
  • A Balanced
  • B Surplus
  • C Deficit
  • D Inflationary
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Question 873:
The money which government spends yearly for the maintenance of its school is?
  • A Used only for wages and salaries
  • B Part of the government's capital expenditure
  • C Part of the government's recurrent expenditure
  • D The government's budget for its school
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Question 874:
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
  • A Dumping
  • B Counter-trade
  • C Bilateral trade
  • D Trade liberalization
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Question 875:
The rate of exchange between a domestic and a foreign currency is defined as the?
  • A Terms of trade
  • B Domestic currency price of a unit of the foreign currency
  • C Foreign currency price of gold
  • D Domestic currency price of gold
View Answer & Explanation