Post Utme Economics Questions
Question 131:
The value of money depends primarily on ____________
- A The gold backing of the currency
- B The gold backing of both currency and deposits
- C The general price level
- D Government decree that it is legal tender
Question 132:
The process by which West African countries attempt of reduce the import of manufactured goods by encouraging firms to produce these goods at home is known as ____________
- A Industrialization
- B Export promotion
- C Import substitution
- D Export substitution
Question 133:
If the Central Bank intends to increase the money supply through open market operations, then it will ____________
- A Sell securities in the open market
- B Buy securities in the open market
- C Issue more currency notes
- D Withdraw money supply from the market
- E Print more demand deposits
Question 134:
A downward sloping demand curve intersects a fixed supply curve. A shift of this demand curve to the right implies that ____________
- A Both price and quantity will increase
- B Only price increases
- C Only quantity increases
- D The price remains constant
- E The price falls
Question 135:
An important feature of a cartel is that ____________
- A Members do not reduce price below the cartel price
- B Each member has a fixed output above which it is not expected to produce
- C A powerful member fixes the price at which others will sell
- D Members fix the prices for their products