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Economics Past Questions and Answers

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Economics Questions

Question 436:

In the diagram equilibrium price is:

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A P<sub style='font-size: smaller;'>2</sub>
B P<sub style='font-size: smaller;'>o</sub>
C P<sub style='font-size: smaller;'>1</sub>
D Indeterminate
E Between P<sub style='font-size: smaller;'>o</sub> and P<sub style='font-size: smaller;'>1</sub> Diagram P.2

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Question 437:

The numerical measure of elasticity is

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A \(\frac{\text{%change in Q}}{\text{%change in P}}\)
B \(\frac{\text{change in Q}}{\text{change in P}}\)
C \(\frac{\text{%change in P}}{\text{%change in Q}}\)
D \(\frac{\text{change in P plus change in Q}}{\text{change in P}}\)

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Question 438:

which of the following is not true about occupational distribution of the labour force of West Africa?

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A A large percentage of the labour force is engaged in agriculture
B Agriculture is the most important occupation in West Africa
C The manufacturing sector employs a large percentage of the population
D Agriculture does not constitute an important source of paid employment
E The public sector forms an important source of paid employment

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Question 439:

which of the following is not true about occupational distribution of the labour force of West Africa?

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A A large percentage of the labour force is engaged in agriculture
B Agriculture is the most important occupation in West Africa
C The manufacturing sector employs a large percentage of the population
D Agriculture does not constitute an important source of paid employment
E The public sector forms an important source of paid employment

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Question 440:

Which of the following is not true of the theory of optimum population?

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A It is possible for densely populated country to be underpopulated if it has insufficient labour to make the most effective use of its other factors
B The quantity of labour which combined with the other factors gives the minimum output is known as optimum population
C The quantity of labour which combined with the other factors, gives the maximum output, is known as optimum population
D The test for over-population is whether it exceed the optimum
E It is possible for a thinly populated country to be over populated if it has a poor supply of other factor

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