Economics Past Questions and Answers

A country has a population distribution as shown below:
\(\begin{array}{c|c}
\text{Age Group years} & \text{ Corresponding percentage} \\
\text{Above 60} & 22 \\
15 - 60 & 60 \\
0 - 14 & 15 \\
\end{array}\)
The dependency ratio is?

A 3:2
B 1:3
C 2:3
D 1:5

Question 12:

Population density refers to?

A Densely populated urban centres
B The total area divided by the total population
C Densely populated rural areas
D The total population divided by the total area

Question 13:

What fundamentally determines how much a consumer spends in a producer's shop?

A Individual's propensity to consume
B Level of his taxation
C Level of his income
D Individual's taste or fashion

Question 14:

Which of the following statements describes a mixed economy?

A The government and the private sector interact in solving the basic economic problems
B The invisible hand solves the basic economic problems
C The government produces and distributes all goods and services
D Society answers the 'what', 'how', and 'for whom' questions only through the market system

Question 15:

In drawing an individual's demand curve for a commodity, which of the following is not kept constant? The

A Individual's money income
B Price of subtitutes
C Price of complementary goods
D Price of the commodity under consideration