Post Utme Economics Questions
Question 361:
GNP is calculated by:
- A GDP plus net factor income abroad
- B Imports plus exports value
- C GDP minus depreciation only
- D Government spending plus taxes
Question 362:
The production method calculates national income by:
- A Measuring consumer savings
- B Adding value of final output
- C Calculating foreign exchange
- D Counting population growth
Question 363:
Average product falls when:
- A Total revenue becomes maximum
- B Marginal product falls below
- C Marginal revenue exceeds average
- D Fixed cost remains constant
Question 364:
One usefulness of national income statistics is:
- A Election result prediction
- B Economic performance measurement
- C Sports performance ranking
- D Climate forecasting accuracy
Question 365:
Goods with many substitutes usually have:
- A Fixed supply only
- B Unitary supply elasticity
- C Elastic demand
- D Perfectly inelastic demand