NDA Economics 2011/2012 Past Questions

Mean, median, mode, variance and standard variation belong to the domain of:

The importance of Bar Chart in statistics is that:

The formula for obtaining the median of a distribution is:

In the formula d/N, N stands for:

In economics, the concept of utility means:

The concept of utility is highly emphasized in the theory of:

Price can be defined as:

The elasticity of demand can be defined as:

The equilibrium market price is determined at a point where:

Full equilibrium requires that:

The history of development planning in Nigeria started

The Structural Adjustment Programme was aimed at:

If supply and demand established a price fern good such that there is no shortage or surplus of good then the price is successfully performing its _________ functions.

To assure that the no price determinant demand and supply do not employ the _______ assumption

The basic determinant of the level of employment and output and of the sale price level is the volume or level of _______

The primary measure of National Output of goods and services during a given period of time is

Giving two factors of production, X and Y, and "X-saving" is technological change refers to the case where the new Y/X ratio is

An increase in consumer spending leads to a proportionally larger increase in capital expenditure

Production is said to be capital intensive when:

A system which allows cultivation of crops as well as raising of livestock is known as

If quantity demanded exceeds quantity supplied, the price is _____ than the equilibrium price

When demand is graphed, the price is placed on _____ axis and quantity on the____ axis

The Principal national macro-economic goals include the following:

Which of the following is a variable that causes the demand curve to

Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is

The total of all income payment which land, labour and capital as well as entrepreneurs receive in a year is known as

Labour productivity is defined as;

A marketing board is:

All but one are barriers to international Trade

All but one are advantages of monopoly;

Use the information below to answer questions 31 and 32
Year 1 : GNP at current prices (Nm) = 20,000 ; Population (million) = 20
Year 2 : GNP at current prices (Nm) = 27,000 ; Population (million) = 24
What is the percentage increase in GNP between year 1 and year 2?

Use the information below to answer questions 31 and 32
Year 1 : GNP at current prices (Nm) = 20,000 ; Population (million) = 20
Year 2 : GNP at current prices (Nm) = 27,000 ; Population (million) = 24
Calculate the GNP per head or the population in year 1 and year 2

In national income accounting, aggregate saving in any year is defined as

Which of the following combinations is a veritable set of development indicators?

If an economy grows at an annual rate of 5% of which 3% is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to

If a country has a balance of payment crises, which of the following measures can best bring about an improvement in the short run?

The terms of trade of a country is defined as

When a foreigner on a visit to Nigeria pays for hotel accommodation and meals with some foreign currency, the amount paid should be recorded in Nigeria’s balance of payments as an item of

The Nigerian Trust Fund is managed on behalf of Nigeria by the

One of the gains by member states of the Economic Community of West African States is