POST UTME DELSU 2025 Economics | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A country's balance of payments account shows a trade deficit of ₦100 billion. If the country's foreign exchange reserves are ₦500 billion, what is the percentage change in the reserves?
Question 2
A country's GDP is given by the equation GDP = C + I + G + \( X - M \). If the country's current GDP is ₦100 billion, and the current levels of consumption, investment, government sp\ending, exports, and imports are ₦30 billion, ₦20 billion, ₦15 billion, ₦25 billion, and ₦20 billion respectively, what is the country's current trade balance?
Question 3
A firm's \cost function is given by C = 50 + 10Q, where C is the \cost and Q is the quantity produced. If the firm produces 20 units, what is its \cost?
Question 4
A central bank uses open market operations to increase the money supply in the economy. What is the effect of this action on the interest rate?
Question 5
A consumer has a budget of ₦1000 and faces a price of ₦200 for a product. If the consumer's indifference curves are given by U = 2x + 3y, where x and y are the quantities of the two products, find the consumer's optimal bundle.
Question 6
The demand for a good is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply curve is given by the equation Qs = 2P - 50, where Qs is the quantity supplied, what is the equilibrium price and quantity?
Question 7
A country's balance of payments is given by the equation BOP = X - M, where X is the value of exports and M is the value of imports. If the value of exports is ₦100 billion and the value of imports is ₦120 billion, what is the balance of payments?
Question 8
A firm is considering a new product that will require an investment of ₦50 million. The firm expects to sell 1000 units of the product at a price of ₦50 each. If the firm's \cost of production is ₦20 per unit, what is the profit-maximizing quantity?
Question 9
A country's balance of payments account shows a current account surplus of ₦100 billion. If the country's foreign exchange reserves are ₦500 billion, what is the percentage change in the reserves?
Question 10
A firm's demand function is given by Q = 100 - 2P. If the market price is ₦20, calculate the quantity demanded.
Question 11
A government is considering a policy to reduce the budget deficit. The current budget deficit is ₦100 billion, and the government wants to reduce it by 20% in the next fiscal year. If the current tax revenue is ₦200 billion, what is the new tax rate needed to achieve the desired reduction in the budget deficit?
Question 12
A monopolist faces a demand curve given by Q = 100 - 2P. If the marginal \cost is cons\tant at 10, what is the profit-maximizing price and quantity?
Question 13
A firm is producing a good with a cons\tant marginal \cost of ₦10 per unit. The market price is ₦20 per unit, and the firm is selling 100 units. What is the total revenue?
Question 14
A monopolist faces a demand curve given by Q = 100 - 2P. If the marginal \cost is cons\tant at 10, what is the profit-maximizing price and quantity?
Question 15
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, what is the \cost-minimizing combination of labor and capital?
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