Economics Past Questions and Answers

Given: Investment = N100 million
Consumption = N200 m + 0.75Y
Y = C + I
where, Y =Income, C = Consumption and where
I = Investment
What is the income level to the nearest million?

A N100 Million
B N300 Million
C N1,000 Million
D N1,200 Million

Question 1332:

The total money values of all goods and services produced in a country during a certain period is measured by using the?

A Income method
B Expenditure method
C Output method
D Factor method

Question 1333:

Privatization of government-owned companies means the?

A Relinquishing of government equility participation to private individuals
B Recapitalization of distressed government-owned companies
C Joint paticipation of government and private individuals
D Commercialization and deregulation of the economy

Question 1334:

The major determinant of the total volume of output in an economy is the?

A Level of wholesale prices
B Size of the labour force
C Level of total expenditure
D Composition of consumer spending

Question 1335:

The most important factor ensuring economic development is the?

A Effective mobilization of domestic savings
B Presence of foreign capital
C Formulation of appropriate government policies
D Attraction of foreign aids and grants