OAU Post UTME Economics Past Questions

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Which quality of a currency means that people are willing to take it in payment for goods, services and debts?

Economic freedom is brought about by the existence of

In the simple closed-economy income-multiplier model with no taxes or imports, the marginal propensity to save is 0.4. If autonomous consumption expenditure changes by ₦10 million, what is the size of the change in equil…

The Multiplier is always the reciprocal of

Suppose a consumer’s income increases from ₦30,000 to ₦36,000. As a result, the consumer increases her purchase of compact discs (CDs) from 25 CDs to 30 CDs. What is the consumer’s income elasticity of demand for CDs?

The production within the domestic territory of a country is called the

The creation of utility can be referred to as

Which of the following was not a member of OPEC on 1 January 2008?

Which of the following is regarded as fixed cost?

The liability of a sole trader is

A drawer of a cheque is the

A deficit budget is usually drawn up during

Which tends to be a progressive tax in Nigeria?

Which of the following is an economic cost?

For which market model is there a very large number of firms?

Inflation is likely to benefit

When a nation’s exports are greater than its import

Suppose wages paid by a firm increase, what would reasonably be expected to happen to the equilibrium price and equilibrium quantity for the firm’s output?

If the price of Pepsi decreases relative to the price of coke and 7-up the demand for

What happens to a supply curve when the variable(s) that are normally held constant are allowed to change?

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