Economics Past Questions and Answers

The situation where government revenue in a fiscal year is less than its expenditure is referred to as

The situation where government revenue in a fiscal year is less than its expenditure is referred to as

Land is often different from other factors of production because it

The values of different types of accounts held in Nigerian banks for the period 1984 to 1988

Year	1984	1985	1986	1987	1988
Savings	100	120	120	180	200
Current	65	75	70	100	130
Fixed deposit	40	45	60	145	50

Present the data above in the form of a component bar chart.

(a) Define price elasticity.
(b) If at N 8.00 per tuber, twenty tubers were demanded and when the price fell to N 6. 00 per tuber, thirty tubers were demanded, what is the elasticity of the demand?