Post Utme Economics Questions
Question 156:
The most important goal of OPEC is to ____________
- A Present a united front for the purpose of raising process of crude oil
- B Bring unity among the petroleum exporting states
- C Ensure political stability among member states
- D Ensure that rules on quota production are strictly followed
Question 157:
Banks can create more money by ____________
- A Increasing its cash ratio with the central bank
- B Issuing more bank cheques
- C Accepting more deposits from customers
- D Lending out more money from customers deposits
Question 158:
If the marginal propensity to consume is 0.75 and private investment increases by ₦10 billion while government expenditure decreases by ₦15 billion GDP will decrease by ____________
- A #12 billion
- B #15 billion
- C #20 billion
- D #25 billion
Question 159:
The economic system which relies mainly on the price mechanism for the allocation of scarce resources is known as ____________
- A Capitalist economic system
- B Command economic system
- C Combined economic system
- D Traditional economic system
Question 160:
The theory of consumer behaviour is based on all the following assumptions except that the ____________
- A Consumer is assumed irrational
- B Consumer taste remains constant
- C Consumer has budget constraint
- D Consumer aims at maximizing his utility