Economics Past Questions and Answers

Which of the following is NOT a visible iterm in international trade payments?`

A Payments for imported cars
B Receipts from coca exports
C Payments to foreign shipping companies
D Payments for steel imports
E Payments for petroleum imports

Question 47:

Market for Garri: At a price of N5, the excess supply is`

A 30 tins per week
B 45 tins per week
C 15 tins per week
D 20 tins per week
E Indeterminate

Question 48:

If P₈ and P₉ represent the population of West African in 1978 and 1979 respectively, and given that in 1979.
D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by

A P₉ = P₈ + D - B = I - E
B P₉ = P₈ + B - D + I - E
C P₉ =P₈ + B - D + E - I
D P₉ = B - D + I - E
E P₉ = P₈ + B + D + I + E

Question 49:

A movement along a given demand curve for a good is caused by a change in

A A consumer income
B The price of the good
C Taste
D The prices of other goods
E Population

Question 50:

External economies are

A The advantage accuring to a firm as a result of its expansion
B The advantages accuring to one firm as a result of the existence of other firms in the same locality
C Benefits derived by a firm as a result of its own individual policy
D Reaped only by agricultural firms
E Bound to increase the costs of production whatever the circumstances