Advanced level 2023 northwest regional mock economics 1

Advanced level 2023 northwest regional mock economics 1

Advanced level 2023 northwest regional mock economics 1

Which ofthe followingrepresents aposijtive . statem
A) Unemploymentoughtto be low in Cameroon.
B) Salaries should be increasedin Cameroon.
C) Taxes have to be reduced given the high cos
Government spending is very low in_Afrigjb
2. In which economic system is consumer
characteristic?
t ofliving’
sovereignty a
A) Laissezfaire economic system.
B) Plannedeconomic system.
C) Communisteconomic system.
D) Mixedeconomic system.
3. A divergent cobweb occurs when the pnee
demand for the good is:
A)greater thantheprice elasticity otsupply,
less than the price elasticity of supply.
C) equal to the price elasticity ofsupply.
D) less thanorequaltothe price elasticityofsu
4. Giventhat the demand and supply functions are
Qd=60-5P, where Qd is quantity demanded an
Qs=20-K3P, where Qs is the quantity supplied. What
quantity demanded at the equilibriumprice?
A) 20 units.
35 units.
_ C) 26 units.
D)38 units.
5. Which of the following is a
Union but not that of a Free Trade Area?
* -A)Commonexternaltariff.
B)Common currency.
C)Abolition oftariffs amongmember states.
D)Abolition of import quotas amongmemberstates.
6. The average price of a basket of goods in an economy
increased from 8,000 FCFA in 2022 to 12,000 FCFA in
2023. Whatis the value ofthe Retail Price Index in2023?,
2
,000
60
of 40
ice elasticity
80
A\)
800
ly.
characteristic of a Customs
A) 600.
B) 400.
€) 150.
D) 100.
Table 3
Disposable income 1,500
Direct taxes 150
7.  .
Thomas Malthus?
Savings 400
Undistributedprofits 50
A)Earthquakes.
B)Drought
C)Flood.
*&)Chastity.
13. Whatis the value of GrossNationalProduct?
A) 1,800millionFCF