Economics Past Questions and Answers

One major aim of a cartel is to

The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are

The headquarters of the African Development Bank (ADB) was originally located at

The table below shows the natural growth gowth rate of the population of country N over a period of time. Use the information contained in the table to answer the following questions. <br/> <br/><table class='tbn'><tbody><tr><td> <b>Year</b> </td><td> <b>Birth Rate per '000</b> </td><td> <b>Death Rate per '000</b> </td><td> <b>Natural Growth Rate</b> </td></tr><tr><td> 1971 </td><td> 45 </td><td> 32 </td><td> L </td></tr><tr><td> 1972 </td><td> 39 </td><td> P </td><td> 12.50 </td></tr><tr><td> 1973 </td><td> 26 </td><td> 22 </td><td> Q </td></tr><tr><td> 1974 </td><td> R </td><td> 22.50 </td><td> 4.50 </td></tr><tr><td> 1975 </td><td> 26.50 </td><td> 22.50 </td><td> S </td></tr><tr><td> 1976 </td><td> 20.50 </td><td> T </td><td> 3.00 </td></tr></tbody></table><br/><br/><br/>(a) Determine L. P, Q, R, S and T. [6 marks] <br/>(b) With the use of a bar chart, graphically present the changes in the natural growth rate over the years. (Use of graph sheet is essential) [8 marks] <br/>(c) Outline any three reasons for changes in birth rate. [6 marks]

A village consists of twenty (20) households with the following annual incomes-<br/>(Incomes <b>$00</b>) 30 20 50 40 60 40 40 50 20 60 80 40 20 20 70 40 70 30 40 80 <br/>(a) Determine the (i) mean income: [4 marks] (ii) modal income; [ 2 marks] (iii) median income. [2 marks] <br/>(b) What is the range of income distribution? [2 marks] <br/>(c) Calculate the total tax that could be generated from the village if (i) a flat rate tax of 7% is imposed on all households; [5 marks] (ii) a flat rate tax of 15% is imposed on all households earning $4,000 per annum and above. [5 marks]