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Economics Past Questions and Answers

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Economics Questions

Question 4971:

Commercial banks usually provide:

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A Currency legislation
B National fiscal policies
C Financial advisory services
D International treaties

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Question 4972:

A negative value for price elasticity of demand shows:

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A Constant production output
B Positive relationship between demand and price
C Equality between supply and demand
D Inverse relationship between price and demand

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Question 4973:

If elasticity of demand equals one, demand is:

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A Perfectly inelastic demand
B Perfectly elastic demand
C Relatively inelastic demand
D Unitary elastic demand

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Question 4974:

One major problem of barter trade was:

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A Double coincidence of wants
B Government regulation only
C Persistent inflation rate
D Excess money supply

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Question 4975:

Money performs the function of measure of value because it:

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A Eliminates market competition
B Prevents scarcity completely
C Determines prices of goods
D Controls government spending

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