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Economics Past Questions and Answers

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Economics Questions

Question 4391:

Using Expenditure Approach to estimate National Income, Y is equal to ____________

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A C + l + G + X – M + P - V
B C + l + G + X – M + P
C C + l + G – X + P
D C – 1 + G + X – M + P
E C + l – G + X – M – P

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Question 4392:

When the value of a country’s export exceeds her imports, there will be a ____________

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A Deficit current account
B Excess visible imports only
C Favorable balance of trade
D Favourable capital account
E Surplus current account

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Question 4393:

Which of the following is a determinant of elasticity of supply?

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A Consumer’s income
B Degree of necessities
C Durability of the product
D Number of uses of the commodity
E Proportion of income spent on the product

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Question 4394:

Entrepreneur is associated more with ____________

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A Capital management
B Production of beverage
C Profit making
D Profit sharing
E Risk bearing

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Question 4395:

Inflation is a ____________

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A General increase in the price of a single product
B Period of economic recession
C Period of hunger
D Period of excessive money
E Persistent rise in the general price level

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