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2746

Visible balance is also known as

  • A. terms of trade
  • B. balance of payments
  • C. balance of trade
  • D. capital balance
View Answer & Discuss WAEC 2012
2747

A shift in the demand curve indicates

  • A. exceptional demand
  • B. change in demand
  • C. change in quantity demanded
  • D. elasticity of demand
View Answer & Discuss (3) WAEC 2012
2748

If a 6% decrease in price results in more than 6% decrease in quantity supplied, supply can be regarded as

  • A. elastic
  • B. unitary elastic
  • C. perfectly inelastic
  • D. perfectly elastic
View Answer & Discuss WAEC 2012
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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2749

A condition for consumer utility maximization is

  • A. equality of the ratio of marginal utilities and the ratio of prices
  • B. equality of the ratio of average utilities and the ratio of prices
  • C. equality of the marginal utility to total utility ratio for both commodities
  • D. total utility and marginal utility must be zero
View Answer & Discuss WAEC 2012
2750

Which of the following best describes the mode? the

  • A. observation with the highest frequency
  • B. average of two middle numbers
  • C. item that occupies the middle position
  • D. difference of two extreme values
View Answer & Discuss WAEC 2012
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