Economics Past Questions and Answers

(a) What is demand- pull inflation?<br/>(b) Why is price control not suitable in checking this type of inflation?

(a) Briefly outline the views of Thomas Malthus about population.<br/>(b) How valid are such views about the Nigerian situation today?

Explain the uses of national income figures.

Given the figures below :<br/>Price of commodity A in January = N5.00<br/>Price of commodity A in February = N7.00<br/>Quantity of A bought in January = 20 kg<br/>Quantity of A bought in February = 16 kg (a) Calculate:<br/>(i) Percentage change in quantity bought (% )<br/>(ii) Percentage change in price of A (% )<br/>(iii) Coefficient of price elasticity of demand (e)<br/>(b) From your answer:<br/>(i) is the demand elastic or inelastic?<br/>(ii) How do you know this?

Write short notes on<br/>(a) Liquidity Ratio.<br/>(b) Fixed Deposits.<br/>(c) Money Market.