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Wednesday, 01 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 4831:
GNP is calculated by:
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  • A GDP plus net factor income abroad
  • B Imports plus exports value
  • C GDP minus depreciation only
  • D Government spending plus taxes
View Answer & Explanation
Question 4832:
The production method calculates national income by:
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  • A Measuring consumer savings
  • B Adding value of final output
  • C Calculating foreign exchange
  • D Counting population growth
View Answer & Explanation
Question 4833:
Average product falls when:
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  • A Total revenue becomes maximum
  • B Marginal product falls below
  • C Marginal revenue exceeds average
  • D Fixed cost remains constant
View Answer & Explanation
Question 4834:
One usefulness of national income statistics is:
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  • A Election result prediction
  • B Economic performance measurement
  • C Sports performance ranking
  • D Climate forecasting accuracy
View Answer & Explanation
Question 4835:
Goods with many substitutes usually have:
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  • A Fixed supply only
  • B Unitary supply elasticity
  • C Elastic demand
  • D Perfectly inelastic demand
View Answer & Explanation

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