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Economics Past Questions and Answers

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Economics Questions

Question 971:

The main objectives of public expenditure does NOT include?

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A Stabilization of national economy
B Achievement of a more equitable income distribution
C Meeting the social needs of the people
D Revenue sharing and profit maximizationn

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Question 972:

A perfect example of a public good is?

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A Air
B Education
C Defence
D Transport

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Question 973:

A balance budget is defined as a condition of?

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A Balance of payments equilibrium
B Equality of planned aggregate demand supply
C Equality of planned receipts and planned expenditure
D Equality of planned exports and planned imports

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Question 974:

By using exchange controls, a country tries to eliminate a balance of payments deficit by?

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A Limiting her imports to its currency value of exports
B Reducing the nation's domestic price level
C Limiting her exports to its currency value of imports
D Overvaluing the country's currency

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Question 975:

The law of comparative advantage states that a country should specialize in the production of a commodity

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A For which local demand is greatest
B In which its oportunity cost is lower than that of the trade partner
C For which foreign demand is greatest
D For which there is abundant supply of raw materials

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