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Tuesday, 21 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2246:
Devaluation means
  • A A reduction in the value of the National currency
  • B A reduction in the purchasing power of the foreign currency
  • C A reduction in the value of the domestic currency relative to foreign currencies
  • D An increase in the value of the national currency
  • E A decrease in the purchasing power of the foreign currencies
View Answer & Explanation
Question 2247:
Which of the following functions do retailers perform in an economy?
  • A Production
  • B Exchange
  • C Hoarding
  • D Distribution
  • E Investment
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Question 2248:
A movement along the demand curve for some goods may be caused by a change in
  • A Consumer income
  • B The price of goods
  • C Consumers taste
  • D The price of other goods
  • E Population
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Question 2249:
which of the following item is not included in measuring national income by the income approach?
  • A Wages and salaries of public servants
  • B Student's grants and scholarships
  • C Profits of companies
  • D Income earned by self-employed persons such as lawyers
  • E Rents on property
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Question 2250:
if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to
  • A Land and enterprenuer
  • B Abundance of natural resources
  • C Level of human capital
  • D Technical progress and related factors
  • E Discipline in political leadership
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