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Economics Past Questions and Answers

Economics Questions

Question 1966:
The law of variable proportions is applicable only
  • A In the long-run period
  • B To large-scale enterprises
  • C To small-scale enterprises
  • D In the short-run period
View Answer & Explanation
Question 1967:
One of the characteristics of oligopoly is the availability of
  • A Few sellers
  • B Few buyers
  • C Many sellers
  • D A single seller
View Answer & Explanation
Question 1968:
Bank consolidation policy in Nigeria is a measure to increase
  • A The capital base of banks
  • B Employment opportunities in banks
  • C The number of shareholders
  • D The number of branches
View Answer & Explanation
Question 1969:
An increase in the circulation of money without a corresponding increase in output will lead to
  • A A rise in income levels
  • B Stagflation
  • C Inflation
  • D Deflation
View Answer & Explanation
Question 1970:
In national income accounts, an item counted as part of government spending is
  • A Salaries and wages
  • B Pension
  • C Scholarship
  • D Social welfare
View Answer & Explanation