UNICAL Economics 2008/2009 Past Questions

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

Devaluation means

A.a reduction in the value of the national currency
B.a reduction in the purchasing power of foreign currencies
C.a reduction in the value of domestic currency relative to foreign currencies
D.an increase in the value of the national currency

Which of the following is not an advantage of price control?

A.control of inflation
B.distortion of price mechanism
C.prevention of exploitation
D.control of producer’s profit

Cement industry is located in Cross River because the state

A.imports raw materials
B.has large deposit of limestone
C.the soil is unsuitable for other products
D.land is suitable for cement production

Which of the following is not type of mobility of labour.

A.occupational mobility of labour
B.industrial mobility of labour
C.geographical mobility of labour
D.crisis mobility of labour

A common natural response of people to the problem of uneven distribution of resources in a place

A.hoarding
B.shifting cultivation
C.family planning
D.migration

Subsistence agriculture means

A.cultivation for external use
B.cultivation for local industries
C.farming for the urban dwellers
D.cultivation for household consumption

The natural growth rate of a population is the

A.death rate plus net immigration
B.rate of migration divided by birth rate
C.birth rate minus death rate
D.sum of birth rate and net immigration rate

Who bears the greater burden of the indirect tax when the demand for a commodity is inelastic? The

A.wholesaler
B.shareholder
C.retailer
D.consumer

Which of these is not a feature of under-development?

A.low per capital income
B.vicious circle of poverty
C.low level of industrialization
D.high per capita income

The economic system which relies mainly on the price mechanism for the allocation of scarce resources is known as

A.capitalist economic system
B.command economic system
C.combined economic system
D.traditional economic system