RSUT Economics 2019/2020 Past Questions

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

The estimated dependency ratio of the population shown above is

A.11:9
B.9:11
C.7:3
D.3:7

Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?

A.the infrastructural facilities in the cities
B.declining fertility of rural farmlands
C.rural electrification programme
D.higher living standards in urban areas

The necessity of choice is due to the fact that .....

A.human wants are insatiable
B.customers like to maximize satisfaction
C.resources are abundant
D.consumers are selective

What is meant by labour supply?

A.number of people in working population
B.number of men and hours they work
C.number of hours during which the middle-aged persons work
D.number of workforce multiplied by the hours they worked

Any payment to a factor of production in excess of what is necessary to keep its present employment is known as

A.real income
B.profit
C.economic rent
D.real wage

The market where there are many differentiated products is called

A.monopoly
B.perfect competition
C.monopolistic competition
D.oligopoly

One of the dangers of localization of industries is

A.residual unemployment
B.mass unemployment
C.structural unemployment
D.cyclic unemployment

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

A.demand deposit account
B.time deposit account
C.special deposit account
D.saving deposit account

Banks can create more money by

A.increasing their cash ratio with the central bank
B.issuing more bank cheques
C.accepting more deposits from customers
D.lending out money from customers' deposits

The most important factor in ensuring economic development is the

A.effective mobilization of domestic savings
B.presence of foreign account
C.formulation of appropriate government policies
D.attraction of foreign aids and grants