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Economics Past Questions

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6
Malthus became famous through his theory which may be stated simply
  • A. the death rate may become so high that people may not be able to produce
  • B. population may outgrow the means of subsistence
  • C. people will eventually decide not to have children
  • D. migration of people from one place to another may leave some parts of the world barren
  • E. all of the above
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7
A commercial bank is unique in that it is only the institution that
  • A. makes loans to private people and businessmen
  • B. accept deposits
  • C. can store peoples' valuables
  • D. can transfer money from one place to another for its customers
  • E. saves money through the granting of credits
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8
Which is an example of an invisible item in the trade Account of Ghana?
  • A. Export of Cocoa from Ghana
  • B. Import of oil from Nigeria
  • C. A gift of a Peugout 504 by a firm in Nigeria to a firm in Ghana
  • D. Payment for shipping and insurance by a Ghanaian company to companies outside Ghana
  • E. None of the above
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9
Which is NOT a direct effort to increase Agricultural production in Nigeria?
  • A. Operation feed the Nation
  • B. Nigerian Youth Service Corps
  • C. Increased loans to farmers and cooperatives
  • D. Research in Agric & Extension services
  • E. Mechanization of Agriculture
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10
If a company doubles all its inputs and discovers that its output is more than doubles, we can say that the company is experiencing
  • A. Increasing Marginal utility
  • B. Diseconomies of scale
  • C. Increasing costs
  • D. Constant returns to scale
  • E. Increasing returns to scale
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