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Economics Past Questions

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4031

An economy in which the whole income is not consumed is referred to as______

  • A. Frugal economy
  • B. Spend thrift economy
  • C. Capitalist economy
  • D. Mixed economy
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4032

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

  • A. 145
  • B. 15
  • C. 90
  • D. 6
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4033

A method of analysis that draws conclusions from data rather than general Principles already known is________

  • A. Deductive reasoning
  • B. Inductive reasoning
  • C. Normative reasoning
  • D. Positive reasoning
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4034

The money market equilibrium is defined as_________

  • A. when the demand and supply of money are equal
  • B. when demand is greater than supply of money
  • C. when demand is less than supply of money
  • D. when supply is greater than demand for money
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4035

An economic condition in which much reduced economic activity co-exists with inflation is referred to as__________

  • A. stagflation
  • B. inflationary spiral
  • C. slump inflation
  • D. inflationary gap
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