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Economics Past Questions and Answers

Economics Questions

Question 1996:
What does X represent?
  • A Recessionary gap
  • B GNP gap
  • C Inflationary gap
  • D Deflationary gap
View Answer & Explanation
Question 1997:
The median of an odd-numbered set of scores is the
  • A Middle value in the set
  • B Highest value in the set
  • C Arithmetic means of the set
  • D Most frequent occuring score
View Answer & Explanation
Question 1998:
The optimal range of output for a perfectly competitive firm is
  • A AC is lowest
  • B AVC is lowest
  • C MC is rising
  • D MC is falling
View Answer & Explanation
Question 1999:
If real income increases while nominal income remains the same, it can be inferred that
  • A Unemployment rate has decreased
  • B General prices has fallen
  • C Employment rate has risen
  • D General prices have risen
View Answer & Explanation
Question 2000:
The profit of a monopolist can be eliminated where price equals
  • A AFC
  • B MC
  • C AC
  • D AVC
View Answer & Explanation