Which of the following is not a problem in the barter economy?

A. multiple exchange rate

B. indivisibility of goods and services

C. double coincidence of wants

D. bulkness of commodities

E. inflation

The optimum population of a country is reached when the

A. production of goodsand sevices is less than optimum

B. output per head is at its highest with a given volume of resources

C. total production increases with a given volume of resources

D. national resources increases as population increases

E. working population rises at a geometrical rate

When the death rate for old people and the infant mortality rate are high , with no migration , there will be in the population a higher number of

A. younger people in the population

B. children in the population

C. old people in the population

D. women in the population

E. men in the population

In the long-run, potential GNP is variable because. I technological change takes place II the quantity of labour and capital is not fixed III. unemployment is not constant

A. I only

B. II only

C. I and II only

D. I and III only

E. III only

For two commodities A and B, MA and MB are the respective marginal utilities while PA and PB are the respective prices. Marginal utilities of the commodities are maximized when

A. MA/PA = MB/PB

B. MA/PA > MB/PB

C. MA/PA < MB/PB

D. PA/MA < PB/MB

E. PA/MA > PB/MB

If the price of product K declines , the demand curve for the complementary product J will

A. remain unchanged

B. shift to the right

C. decrease

D. shift to the left

E. slopes upwards

A stock exchange is a market that

A. deals with the exchange of commodities

B. deals with purchase and sales of securities

C. exchanges stockfish for lady fish

D. exchanges treasury bills for bills of exchange

E. sells foreign exchange

The situation whereby government revenue is less than government expenditure is referred to as

A. budget deficit

B. balanced budget

C. budget surplus

D. budget statement

E. unfavourable budget

Which of the following will not increase the population of a country?

A. an increase in birth rate

B. a decrease in death rate

C. better medical services

D. immigration

E. Emigration

The actual output of an economy is the output

A. which would exist if al resources were fully employed

B. produced by currently employed labour capital and land

C. produced in the consumer goods sector

D. produced in the capital goods sector

E. produced by agriculture sector