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Economics Past Questions and Answers

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Economics Questions

Question 3191:

The need for development planning arises largely from the fact that

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A Aggregate savings exceeds aggregate consumption
B Aggregate consumption equals aggregate savings
C Productive resource are in excess of the demand for them
D Productive resource are scarce relative to the demand for them

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Question 3192:

Economic development is reflected in the

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A Scarcity of capital
B Increase in the price level
C Decline in the agricultural production
D Increase in productive capacity

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Question 3193:

Terms of trade may be define as the

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A Trade between one country and another
B Relationship between country's receipt from others and payment to others
C Rate at which a country's export exchange for imports
D Different between the value of export and imports

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Question 3194:

The terms of trade is described as unfavourable when

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A The price of imports rises relative to those of exports
B The price of exports rises relative to those of imports
C The net income from aabroad does not change
D The value of exports exceeds those of imports

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Question 3195:

Expenditure by foreign tourist in a country will be recorded as

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A Visible exports
B Official transfers
C Transfer income
D Divisible exports

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