OAU Post UTME Economics Past Questions

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Which listed action increases a producer's total revenue for a small price change that stays within the stated elastic or inelastic demand range?

With total household spending fixed, buyers replace purchases of local goods with imports. Which listed statement directly describes where that spending goes?

As total utility is increasing, marginal utility is

A 50% increase in the quantity demanded of a commodity, following a 100% decrease in its price, shows that the commodity hasUse the stated percentage changes measured from their initial values to classify demand over thi…

Which of the following is not a measure for controlling inflation by the central bank?

A country’s aggregate consumption was ₦20 million when its GDP was ₦100 million. Following an increase in GDP to ₦120 million, consumption increased to ₦25 million. The marginal propensity to consume is given as

Which statement is not correct under the usual demand-and-supply model with other conditions unchanged?

In economics, a commodity is said to have an opportunity cost because

For a naturally available good with no opportunity cost, which situation shows that it is abundant rather than scarce?

When the product of any one firm in an industry is not perceived by consumers as a perfect substitute for the product of any other firm in the same industry, we have

Identify one among the following which is NOT part of the objectives or functions of the African Development Bank (ADB)

How can we eliminate a surplus in a commodity market?

At a fixed price, quantities demanded and supplied differ. In the simple model where all possible willing trades occur, which statement gives the quantity actually exchanged?

Which of the following correctly defines inflation?

If the cross-price elasticity of demand for X with respect to the price of Y is zero, then, in this measured demand relationship,

Demand for money is

In the usual perfect-competition model with downward-sloping market demand, the is horizontal while the is downward sloping.

The sum of MPS and MPC is

Which statement is incompatible with the standard short-run production model, in which at least one input is fixed?

GDP per capita is:

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OAU Post UTME Economics Past Questions

Which listed action increases a producer's total revenue for a small price change that stays within the stated elastic or inelastic demand range?

With total household spending fixed, buyers replace purchases of local goods with imports. Which listed statement directly describes where that spending goes?

As total utility is increasing, marginal utility is

A 50% increase in the quantity demanded of a commodity, following a 100% decrease in its price, shows that the commodity hasUse the stated percentage changes measured from their initial values to classify demand over thi…

Which of the following is not a measure for controlling inflation by the central bank?

A country’s aggregate consumption was ₦20 million when its GDP was ₦100 million. Following an increase in GDP to ₦120 million, consumption increased to ₦25 million. The marginal propensity to consume is given as

Which statement is not correct under the usual demand-and-supply model with other conditions unchanged?

In economics, a commodity is said to have an opportunity cost because

For a naturally available good with no opportunity cost, which situation shows that it is abundant rather than scarce?

When the product of any one firm in an industry is not perceived by consumers as a perfect substitute for the product of any other firm in the same industry, we have

Identify one among the following which is NOT part of the objectives or functions of the African Development Bank (ADB)

How can we eliminate a surplus in a commodity market?

At a fixed price, quantities demanded and supplied differ. In the simple model where all possible willing trades occur, which statement gives the quantity actually exchanged?

Which of the following correctly defines inflation?

If the cross-price elasticity of demand for X with respect to the price of Y is zero, then, in this measured demand relationship,

Demand for money is

In the usual perfect-competition model with downward-sloping market demand, the ________ is horizontal while the ________ is downward sloping.

The sum of MPS and MPC is

Which statement is incompatible with the standard short-run production model, in which at least one input is fixed?

GDP per capita is:

In the usual perfect-competition model with downward-sloping market demand, the is horizontal while the is downward sloping.