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National income is calculated mainly to
At what point on the total product curve shown above will marginal product be negative?
To overcome the problem of double counting under the expenditure approach,
A government may cause a favourable change in her invisible trade account by
Industries are sometimes located in areas which are not profitable so as to
The supply of light could be met using a candle, lantern and gas lamp. This is an example of a
A monopolist may enjoy abnormal profit only if its
If the government stops subsidy on cocoa production, the supply curve of cocoa will
The demand for a factor input as a result of the demand for its output is known as
Which of the following is a non-renewable natural resources?
Which of the following is NOT one of the characteristics of developing countries?
Given the table demonstrating the law of diminishing marginal utility below, what is the value of X?
|
No. of oranges Consumed |
Total Utility | Average Utility |
Marginal Utility |
| 1 | 9 | 9 | - |
| 2 | 16 | 8 | x |
| 3 | 24 | 8 | 6 |
| 4 | 30 | 7.5 | 4 |
| 5 | 34 | 6.8 | y |
| 6 | 36 | 6 | 2 |
| 7 | 36 | 5.1 | 0 |
Economics is often described as a science because it
Which of the following must be true to have a closed economy with no government, and yet the value of the investmet multiplier still increase?
Overpopulation is caused by
The number of people who are qualified to work and who offered themselves for employment are called
Which of the following will cause an increase in cost of production?
Institutions serving as links between surplus and deficit units can be identified as
------------- is NOT the cause of balance of payments (BOP) deficits in Nigeria
In a two by two model of international trade, it is assumed that