OAU Economics 2010/2011 Past Questions

For two substitute goods the cross elasticity of demands is:

If a person receives a higher wage than would be necessary to induce him to work, he is said to be receiving:

Which of this is likely to be inflationary

A characteristic of a debenture is that

Which of these is not included in measuring national income by the income approach?

The revenue accruing to the seller of commodity X as a result of a fall in price will

Deflation is persistence fall in price in the general price level and is usually caused by

Under partnership, investors who have no desire to be actively involved in the day-to-day management of such organizations are called

In a sole proprietorship, decisions are made by the

A greater burden of taxes on essential goods is borne by the

Demand as a factor of production is

One disadvantage of sole proprietorship is its

The monetary system that requires double coincidence of wants is known as

The marginal theory of distribution makes an assertion that the price of any factor depends upon its marginal

By using exchange controls a country tries to eliminate a balance on payments deficit by

Economics of scale operates only when

If an increase in income induces a reduction the demand for beans, beans can be referred to as

Optimum population is desirable because it enables an economy to attain maximum

Marginal cost curve intersects average cost curve

The concept of economic efficiency refer to

A major factor affecting the value of money is the

Which of the following is an example of invisible item on balance of payments account?

The best index for international comparison of standard of living is the