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1961

The supply of light could be met using a candle, lantern and gas lamp. This is an example of a

  • A. complementary supply
  • B. abnormal supply
  • C. joint supply
  • D. composite supply
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1962

Industries are sometimes located in areas which are not profitable so as to

  • A. encourage rural-urban migration
  • B. be able to even-out development
  • C. bring about external economies of scale
  • D. be able to reap internal economies of scale
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1963

A government may cause a favourable change in her invisible trade account by

  • A. developing tourism and other services
  • B. imposing high tariff on exports
  • C. encouraging people to go for medical treatment abroad
  • D. increasing the export of her primary products
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1964

To overcome the problem of double counting under the expenditure approach,

  • A. spending on intermediate goods and inputs are considered
  • B. valued added method is used
  • C. proper accounting standards must be used
  • D. only spending on final goods are considered
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1965

At what point on the total product curve shown above will marginal product be negative?

  • A. Q
  • B. S
  • C. R
  • D. P
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