POST UTME EKSU 2025 Economics | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The Nigerian economy is experiencing a recession. The government has implemented a fiscal policy to stimulate economic growth. What is the likely effect of this policy on the aggregate demand curve?
A. The aggregate demand curve will shift to the left.
B. The aggregate demand curve will shift to the right.
C. The aggregate demand curve will remain unchanged.
D. The aggregate demand curve will fluctuate.
Question 2
The government of Nigeria wants to increase its revenue from taxation. It decides to increase the tax rate on the sale of petroleum products from 10% to 15%. If the sale price of petroleum products is ₦100 per liter, what is the increase in tax revenue?
A. ₦5
B. ₦10
C. ₦15
D. ₦20
Question 3
The Nigerian government has implemented a policy to increase agricultural production and reduce reliance on imported food. Which of the following is a likely consequence of this policy?
A. Increased food prices
B. Reduced food imports
C. Increased agricultural employment
D. Decreased agricultural production
Question 4
A country's GDP is 100 billion naira, and its population is 20 million people. What is the country's GDP per capita?
A. ₦5,000
B. ₦10,000
C. ₦15,000
D. ₦20,000
Question 5
A firm's demand function is given by Q = 100 - 2P. If the firm's current price is 20 naira, what is the required change in price to increase the quantity demanded by 10 units?
A. ₦5
B. ₦10
C. ₦15
D. ₦20
Question 6
A firm's \cost function is given by C = 2L + 3K, where C is \cost, L is labor and K is capital. If the firm's current labor and capital inputs are 4 and 6 respectively, what is the firm's total \cost?
A. 20
B. 30
C. 40
D. 50
Question 7
A firm's production function is given by Q = 3L^2K, where Q is output, L is labor and K is capital. If the firm's current labor and capital inputs are 2 and 3 respectively, what is the firm's total output?
A. 12
B. 18
C. 24
D. 30
Question 8
A bank has a reserve requirement of 20% and a cash reserve of ₦100,000. If the bank wants to increase its l\ending capacity by ₦500,000, how much additional capital does it need to inject?
A. ₦200,000
B. ₦300,000
C. ₦400,000
D. ₦500,000
Question 9
The demand for a good is given by the equation \( Q_d = 100 - 2P \), where Q_d is the quantity demanded and P is the price of the good. If the supply of the good is given by the equation \( Q_s = 50 + 3P \), find the equilibrium price and quantity.
A. Equilibrium Price = ₦20, Equilibrium Quantity = 80
B. Equilibrium Price = ₦30, Equilibrium Quantity = 70
C. Equilibrium Price = ₦40, Equilibrium Quantity = 60
D. Equilibrium Price = ₦50, Equilibrium Quantity = 50
Question 10
A country's inflation rate is 5% per annum, and its nominal interest rate is 10% per annum. What is the real interest rate in the country?
A. 5%
B. 10%
C. 15%
D. 20%
Question 11
A country's GDP is ₦1 trillion, its imports are ₦200 billion, and its exports are ₦300 billion. What is its balance of trade?
A. ₦100 billion surplus
B. ₦100 billion deficit
C. ₦200 billion surplus
D. ₦200 billion deficit
Question 12
A country's GDP is given by GDP = C + I + G + \( X - M \), where C is consumption, I is investment, G is government sp\ending, X is exports and M is imports. If the country's current GDP is 100, consumption is 30, investment is 20, government sp\ending is 15, exports are 25 and imports are 10, what is the country's net exports?
A. 5
B. 10
C. 15
D. 20
Question 13
A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 10x + 5y = 50, what is the consumer's optimal bundle of goods?
A. x = 2, y = 4
B. x = 4, y = 2
C. x = 5, y = 3
D. x = 3, y = 5
Question 14
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current output is 16 units, and it wants to increase its output to 25 units, what is the required increase in the capital stock?
A. 10 units
B. 20 units
C. 30 units
D. 40 units
Question 15
Consider a consumer with a utility function ( U(x, y) = 2x + 3y ), where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, find the consumer's optimal bundle of goods.
A. x = 80, y = 20
B. x = 60, y = 30
C. x = 40, y = 40
D. x = 20, y = 60

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