POST UTME UNIPORT 2025 Economics | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A consumer's utility function is given by U(x, y) = 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 optimal bundle of goods (x, y) that the consumer should consume?
Question 2
A government is considering a fiscal policy to stimulate economic growth. If the current GDP is ₦10 trillion and the government wants to increase it by 10% within the next year, what will be the required increase in government exp\enditure?
Question 3
A central bank is considering a monetary policy to reduce inflation. If the current inflation rate is 10% and the central bank wants to reduce it to 5% within the next 2 years, what will be the required annual rate of interest?
Question 4
A firm has a total revenue function given by TR = 2Q^2 - 10Q + 20. What is the firm's marginal revenue function?
Question 5
A country's GDP is given by GDP = C + I + G + \( X - M \). If the country's consumption is ₦100 billion, investment is ₦20 billion, government sp\ending is ₦30 billion, exports are ₦40 billion, and imports are ₦20 billion, calculate the country's GDP.
Question 6
A government imposes a tax of ₦10 on a firm's output. The firm's supply function is given by Q = 2P - 10. What is the firm's new supply function after the tax is imposed?
Question 7
A consumer's utility function is given by U(x,y) = 2x + 3y. If the consumer's income is ₦100 and the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal bundle?
Question 8
A perfectly competitive firm's marginal revenue (MR) curve is downward sloping. What is the relationship between the firm's marginal \cost (MC) and its average total \cost (ATC)?
Question 9
A monopolist faces a demand curve with the following equation: Qd = 100 - 2P. If the firm's marginal \cost (MC) is cons\tant at ₦10, what is the optimal price (P) and quantity (Q) that the firm should produce?
Question 10
A consumer has the following utility function: \( U = 2x + 3y \), where x and y are the quantities of two goods consumed. If the prices of the two goods are $2 and $3 respectively, and the consumer has a budget of $10, what is the optimal bundle of goods that the consumer will consume?
Question 11
A firm is producing a good u\sing two inputs, labor and capital. The production function is given by Q = 10L^0.5K^0.5, where Q is the quantity of output, L is the amount of labor, and K is the amount of capital. If the firm is currently producing 100 units of output u\sing 10 units of labor and 10 units of capital, what is the marginal product of labor?
Question 12
A consumer has a budget constraint of ₦1000 and a utility function U(x,y) = 2x + 3y. If the prices of x and y are ₦5 and ₦10 respectively, what is the optimal bundle of x and y that the consumer will choose?
Question 13
Consider a country with a GDP of $100 billion and a GNP of $120 billion. What is the net factor income from abroad?
Question 14
A firm is considering investing in a new project that has a net present value (NPV) of ₦100,000. However, the firm's \cost of capital is 10% per annum. U\sing the NPV rule, determine whether the firm should invest in the project.
Question 15
A firm is considering investing in a new project that has a net present value (NPV) of ₦100,000. However, the firm's \cost of capital is 10% per annum. U\sing the NPV rule, determine whether the firm should invest in the project.
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