Post Utme Economics Questions
Question 66:
Product homogeneity is one of the
characteristics of
- A Perfect competition
- B Monopoly
- C Monopolistic competition
- D Oligopoly
- E Competition
Question 67:
Which of the following is compatible with a firm in a purely competitive market?
- A Demand is inelastic
- B Demand is infinitely elastic
- C Marginal cost is falling
- D Price is greater than marginal cost
- E Price is less than marginal cost
Question 68:
The difference between gross national product and net national product is equal to ___
- A Gross investment
- B Net investment
- C Net foreign income
- D Capital depreciation
- E Net and gross
Question 69:
The difference between the Gross
Domestic Product and the Gross National Product is the___
- A Allowance for total depreciation
- B Total interest payments
- C Total tax and interest payments
- D Net income from abroad
- E None of the above
Question 70:
The multiplier is defined as ____
- A The ratio of the change in income to the change in investment
- B The change in investment divided by the change in income
- C 1/(MPC)
- D 1/(1-MPS)
- E Process of multiplying initial increase in income