Economics Past Questions and Answers

Optimum population is desirable because it enables an economy to obtain maximum?

A Per capita income
B Per capital output
C Per capita real income
D Per capital revenue
E Growth rate

Question 7:

The age distribution of a population is NOT influenced by?

A Brith rates
B Death rates
C Patterns of immigration
D Patterns of emmigration
E School leaving age

Question 8:

One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?

A Prof. Paul Samuelson
B Adam Smith
C David Ricardo
D Rev. Thomas Malthus
E Prof. Ojetuuji Aboyade

Question 9:

\(\begin{array}{c|c}
\text{Units of Quantity consumed} & \text{Total utility} & \text{Marginal utility} \\
0 & --- & --- \\
1 & 10 & 10 \\
2 & 15 & 5 \\
3 & 17 & 2 \\
4 & 18 & 1 \\
5 & 18 & 0 \\
\end{array}\)
The table above illustrates the law of?

A Diminishing marginal utility
B Diminishing marginal productivity
C Diminishing returns
D Increasing returns
E Increasing total utility

Question 10:

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

A An increase in demand for X will increase the supply of Y
B An increase in demand for X will shift the supply of Y
C An increase in demand for Y will raise the price of X
D An increase in demand for X will cause less of Y to be produced
E A probable tax on Y will cause more of X to be supplied