NDA Economics 2017/2018 Past Questions

Aggregate demand is composed of

The major advantage of a public corporation is

Mr Akintade earns ₦300 and pays ₦15 as tax, Mr Basil earns ₦100 and pays ₦6 as tax. This tax system can be described as:

If the growth of available resources continuously outpaces that of the population, a country will experience

One of the following classical economists propounded the theory of population

In the graph below, FG indicates

Public expenditure creates expansionary effects on the economy when it is:

The elasticity of supply shows the responsiveness of ____.

Inflation in the Nigerian economy may be fuelled by an increase in

In the figure below, the broken line labelled M is the marginal revenue curve of a:

Under perfect competition the long-run equilibrium requires:

The purchasing power of naira will fall when:

A country has a production distribution as shown below:

Age Group in Years	Corresponding Percentages
Above 60	25
15-60	60
0-14	15

The dependency ratio is:

Given that the cash reserve ratio is 10%, what is the maximum amount of money that the banking system can create from an initial cash deposit of ₦100?

There is an improvement in the terms of trade of a country if:

The progressive tax structure is designed to

If the labour productivity in cement industry is increasing as the output of cement is expanded, then the amount of labour per unit of output produced must be:

If profit maximization is assured to be objective of a business enterprise, labour must be paid a wage rate equal to the:

The diagram below represents the production function. At which of the point does diminishing return sets in

Cross elasticity of demand can be expressed mathematically as:

A sustained increase in the production of goods and services in a country is called:

One of the techniques for rectifying a deficit balance of payment is:

The advantages which firms obtain directly from expanding their operations are referred to as:

The population of Afaka was 480,000 in December 1980, out of which 60% were female. If within one year no births were recorded, but 5% of the male died, what will be the population of Afaka in December 1981

With a given level of money income, a consumer maximizes satisfaction from the consumption of goods and services when the:

The type of cost which has to be covered for a firm to continue production in the short-run is:

In commercial banking, an account for which the customer cannot withdraw money instantly is a

A glut in the world market of crude oil means:

Stock and Share, as well as Bonds, are examples of instrument used in the:

In many developing countries, the infrastructural problem is acute due to the shortage of:

Development plans have not been successful in some developing countries largely because of:

The equilibrium wage rate in an economy is determined by the

Favourable terms of trade are important to a country because it facilitates

A primary industry is concerned with:

A country exporting mainly primary products and with a high percentage of her labour force in Agriculture is said to be:

A country's import price index by 1995 was 50 and her export price was 70. Calculate the terms of trade

Using the following formula, obtain the velocity of money
MV = PT; where M is Money, V is the velocity of money, P is price and G is the transaction

In a perfectly competitive market, the competitor

Taxes and government expenditure are instruments of

A firm with a marginal cost equals its marginal revenue will produce the equilibrium output of