ABU Economics 2014/2015 Past Questions

Practice each question, then open it to see the full details.

The following except ONE, are the differences between international trade and internal trade.

A.differences in currency
B.government control
C.mobility of factors of production
D.exchange of good and services

The central bank instrument of control does NOT include

A.open market operations
B.moral suction
C.selective credit control
D.printing banknotes

The basic principle of co-operative societies are those of

A.workers ownership and worker control
B.sole proprietorship
C.partnership
D.denying credit facilities to members

Generally property taxes

A.are borne entirely by landlords
B.cannot be shifted in the long run
C.are borne only by renters
D.are born by all(renter, owner-occupiers and landlords)

The population level that yields the maximum output when combined with available resources is known as

A.dependent population
B.maximum population
C.active population
D.optimum population

Restriction on credit creation by commercial banks can be effected through

A.an overdraft
B.loans and allowance
C.demand deposit
D.liquidity ratio

The Net National Product (NNP) is the Gross National Product(GNP)

A.minus depreciation
B.plus income from abroad
C.less income from abroad
D.plus indirect taxes

'MEANS' in Economics refers to

A.choice
B.factors
C.output
D.resources

Which of the following does not belong to the group in respect of the quality of money?

A.Durability
B.Divisibility
C.Portability
D.Measure of value

Short-run period in production is a period too short for a firm to be able to change it's

A.Scale of operations
B.total revenue
C.variable inputs
D.total ouputs