NDA Economics 2015/2016 Past Questions

Which of the following does not cause an increase in supply?

Which of the following statements is not true when the price is above the equilibrium price?

A specific argument advanced for protection is?

The interest rate is?

In order to maximize profits, a firm borrows until the return on investment

The market supply of labour depends on

Which of the following are leakages from the circular flow?

Which of the following cost items refers to price?

The basis for all economic activities is

Which of these factors does not determine the level of aggregate savings?

In the theory of the firm, the curve used in the determination of profit level is?

If the supply of a commodity is perfectly inelastic the market price is determined by?

One of the economic problems of Nigeria today arises from?

International trade is necessary because?

The monetary system that relates to the double coincidence of wants is referred to as?

The World Trade Organization is responsible for?

The money paid per hour for work done is

In modern economies, the Malthusian theory of population is ineffective because of

During the era of barter, money was generally in the form of

The downturn in the prices of shares on stock markets is a highlight of

If ẋ = 6 and N = 6, determine the value of Σfx

A typical feature of a market economy is that

In long-run, one of the characteristics of monopolistic competitive firms is that they?

Per Capita Income in any African country is measured by

The income-consumption relationship indicates that the marginal propensity to consume?

Use the following demand and supply schedule to answer questions 26-29.

Price(₦)	Quantity demanded	Quantity supplied
1	20	3
2	18	6
3	15	8
4	10	10
5	8	15
6	6	18
7	2	20

What is the equilibrium price?

Use the following demand and supply schedule to answer questions 26-29.

Price(₦)	Quantity demanded	Quantity supplied
1	20	3
2	18	6
3	15	8
4	10	10
5	8	15
6	6	18
7	2	20

What is the equilibrium quantity

Use the following demand and supply schedule to answer questions 26-29.

Price(₦)	Quantity demanded	Quantity supplied
1	20	3
2	18	6
3	15	8
4	10	10
5	8	15
6	6	18
7	2	20

what is the excess supply at the price of ₦5.00?

What is excess supply at the equilibrium price?

The additional revenue obtained by using one more unit of a factor is called its?

In the operation of market forces, the market is in equilibrium at the point where?

In the diagram above, PS is the supply curve for a particular commodity, while OP is the price. Which of the following statements is correct?

In which of the diagram below is the consumer surplus correctly shaded?

A budget with projected revenue in excess of its expenditure is said to be?

Frictional unemployment?

From the diagram above, a shift in the demand curve from D₀D₀ to D₁ D₁implies?

If the equilibrium price of a certain commodity is ₦120.00 and the government fixed its price at ₦110.00, the supply will be?

Economic development is distinguishable from economic growth because the former?

The joint ventures operating in the Nigerian oil industry are between?

Comparative advantage implies that a country will specialize in producing the Commodity?