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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
Which one of the following measures the natural growth rate of population?
Multiplier can be described as
Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
Agriculture accounts for about 60% of the
When a kilogram of carrot is #8.00, 20 kilograms are demanded and when the price decreased to #6.000 per kilogram, 30 kilograms are demanded. The elasticity of demand equals to
Calculate the equilibrium level of national income (Y) where Y = C + I + G; C = 100 + 0.75Y; I = 50; G = 200
From the graph above, the consumer is at equilibrium at point
All of the following describes conditions necessary for existence of a perfect market EXCEPT
If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?
The quantity of commodity a consumer is willing and able to buy at a particular time is called