OAU Post UTME Economics Past Questions

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The only essential attribute of a good currency is

Economic freedom is brought about by the existence of

If the marginalpropensity to save is 0.4 and consumption expenditure changes by ₦10 million, the equilibrium level of income will change by

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 is not a member of OPEC?

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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