UNIVERSITY OF LAGOS(UNILAG) 2006 POST-UTME PAST QUESTION(ECONOMICS)

UNIVERSITY OF LAGOS
2006 POST-UTME
ECONOMICS

1. A tax that takes an increasing fraction of income goes down is called
A. conditional
B. regressive.
C. progressive.
D. proportional.

2. A rising short-run average cost is a result of
A. falling marginal cost
B. rising fixed costs
C. economics of scale.
D. diminishing return

3. T he sum of N80,000 is deposited in a bank and the cash ratio of the banking system is 10%. Calculate the total sum of moneythe bank can create from the deposit.
A. N100,000
B. N800,000
C. N700,000
D. N850,000

4. I f budget deficits are financed by borrowing, the crowding-out effect can be offset by an increase in
A. savings
B. interest rates.
C. govemment expenditure
D. exchange rate

5. T he only factor of production that plays an active role in the production process is
A. capital
B. labour.
C. entrepreneur.
D. land

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Comments

  1. Rasheed says:

    i need funaab postjamb past question and answers

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