Economics Past Questions and Answers

(a) What is demand- pull inflation?
(b) Why is price control not suitable in checking this type of inflation?

(a) Briefly outline the views of Thomas Malthus about population.
(b) How valid are such views about the Nigerian situation today?

Explain the uses of national income figures.

Given the figures below :
Price of commodity A in January = N5.00
Price of commodity A in February = N7.00
Quantity of A bought in January = 20 kg
Quantity of A bought in February = 16 kg (a) Calculate:
(i) Percentage change in quantity bought (% )
(ii) Percentage change in price of A (% )
(iii) Coefficient of price elasticity of demand (e)
(b) From your answer:
(i) is the demand elastic or inelastic?
(ii) How do you know this?

Write short notes on
(a) Liquidity Ratio.
(b) Fixed Deposits.
(c) Money Market.