Economics Past Questions and Answers

Ajanka, a medical student entitled to an annual allowance of N6,000, decides to leave the university to take up a job where he earns N7,000 per annum. By this singular act, the national income level will?

A Increase by N1,000
B Decrease by N 7,000
C Increase by N7,000
D Increase by N 13,000

Question 42:

An increasing population might be of economic benefit to a country if?

A The female population is greater than the male population
B The dependency ratio is increasing as the total population increases
C A continuosly higher proportion falls into working class category
D The rural and urban proportion ae balanced

Question 43:

The demand made on each other by the agriculture and industrial sector as the economy grows are reflected in?

A Backward and forward linkages
B Horizontal and vertical linkages
C Vertical linkages
D Functional linkages

Question 44:

Foreign exchange rate in a free market economy is determined by?

A The government
B The Central Bank
C Demand and supply
D Commercial banks

Question 45:

The primary objective of all international economic organizations is to?

A Ensure that third world countries get a better share of the world's resources
B Promote international economic co-operation for the mutual benefit of all members
C Enforce structural adjustment programmes on less developed countries
D Encourage exports from the developed to the less developed countries