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Economics Past Questions

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4301

Inflation is likely to benefit_______

  • A. Debtors
  • B. Persons with back savings
  • C. Creditors
  • D. Persons who lived on fixed pension funds
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4302

When a nation's exports are greater than its imports,_________

  • A. The net foreign trade is zero
  • B. A favourable balance of trade exists
  • C. A favourable balance of payment exists
  • D. An unfavourable balance of trade exists
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4303

Surplus in balance of payments leads to ________

  • A. Government budget surplus
  • B. Increase in foreign reserves
  • C. Decrease in foreign reserves
  • D. None of the above
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4304

Economics may be defined as ________

  • A. The study of human behaviour in the allocation of scarce resources
  • B. The study of money and banking
  • C. The study of markets and prices
  • D. The study of production and distribution
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4305

Money becomes a very poor store of value in a period of _______

  • A. Harvest
  • B. Deflation
  • C. Recession
  • D. Inflation
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