Economics

Question 1

1A positive relationship between two variables means

Easy

A. one is zero B. they move in the same direction C. they move in opposite directions D. there is no relationship

Question 2

2A graph showing data as bars of equal width is a

Easy

A. bar chart B. pie chart C. line graph D. scatter diagram

Question 3

3Which is a positive economic statement?

Easy

A. The government ought to cut taxes. B. Prices should be lower. C. Everyone deserves a car. D. Unemployment in Ghana rose last year.

Question 4

4The median of 3, 5, 7, 9, 11 is

Easy

A. 9 B. 7 C. 5 D. 35

Question 5

5In a table, the price is GH¢4 and quantity is 10 units. Total revenue is

Easy

A. GH¢2.50 B. GH¢6 C. GH¢14 D. GH¢40

Question 6

6A function showing the relationship between price and quantity demanded is the

Easy

A. production function B. cost function C. demand function D. consumption function

Question 7

7The arithmetic mean of 4, 8, 12 and 16 is

Easy

A. 10 B. 40 C. 12 D. 8

Question 8

8Ceteris paribus means

Easy

A. prices are fixed B. nothing matters C. all things change D. other things being equal

Question 9

9A normative statement in economics is one that

Easy

A. can be tested against data B. contains a value judgement about what ought to be C. uses only numbers D. is always true