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Economics Past Questions

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4071

Use the following information given to answer this question

Total of all expenditure incurred during the year ₤80,000 m
Indirect taxes on goods and services ₤8,000m
Capital consumption ₤6,000m

 

Gross national expenditure at factor cost is_________

  • A. ₤ 88,000μ
  • B. ₤ 82,000μ
  • C. ₤ 74,000μ
  • D. ₤ 72,000μ
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4072

Let the quantity demanded in units of a particular commodity be represented as Qd = 80 - 2P, find the quantity demanded when P = ₦3.

  • A. 70
  • B. 47
  • C. 74
  • D. 40
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4073

The following are measures of location except________

  • A. Arithmetic mean
  • B. Harmonic mean
  • C. Range
  • D. Geometric mean
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4074

The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

  • A. banks only
  • B. discount houses only
  • C. banks and discount houses
  • D. banks, discount houses and stock, exchanges
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4075

The second equation of exchange is__________

  • A. MV = PT
  • B. P = \(\frac {M}{KR}\)
  • C. P = \(\frac {MV}{T}\)
  • D. P=MV
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