Which of the following can be considered as being outside the objectives of public finance?
- A. The allocation of resources to various sectors of the economy
- B. The objective of even distribution of income and wealth
- C. The achievement of economic stability
- D. The deregulation of the economy
Economic development is distinguishable from economic growth because the former?
- A. is not concerned with growth parameters
- B. affects only the poor people
- C. also includes an efficient distribution of economic growth
- D. is an increase in the production of goods and services
The sum of N80,000 is deposited in a bank and the cash ratio of the banking system is 10%. calculate the sum of money the bank can create from the deposit?
- A. N 100 000
- B. N 800 000
- C. N 1000 000
- D. N 8000 000
Which of the following programmes in the monetary sector is aimed at enhancing the banking habit of the rural areas?
- A. The deregulation of the banking system
- B. The increase in the number of merchant banks
- C. The community banking scheme
- D. The deregulation of interest rate
The money market is a financial market that specializes in the provision of?
- A. short-term loans
- B. medium-term loans
- C. long-term loans
- D. venture capital for development projects
Since the mid-1980s, the most disturbing development in the industrial sector in Nigeria is?
- A. labour intensity
- B. capital intensity
- C. poor technology
- D. capacity under-utilization
One of the most important factors that should be considered in the location of an industry is?
- A. nearness to the financial centre
- B. assured patronage by government functionaries
- C. availabilities of inputs and market
- D. availabilities of adequate security
The most popularly adopted industrialization strategy in West Africa is?
- A. import substitution
- B. export promotion
- C. ports development
- D. infant industries protection
On the basis of the contribution to employment, the most important economic sector in West African is?
- A. industry
- B. agriculture
- C. construction
- D. commerce
Wheat grows best in?
- A. tropical climate
- B. temperate climate
- C. equatorial climate
- D. hot desert
A modern corporation is owned by?
- A. debenture holders
- B. ordinary shareholders
- C. preference shareholders
- D. creditors
A public liability company is different from a private limited company because i?
- A. is registered with the registrar of companies
- B. is a legal entity
- C. can raise capital of size by way of loans
- D. can sell shares in the stock exchange
a debenture share entitles its holder to?
- A. participate in the annual general meeting of the company
- B. share in the dividends declared
- C. recieve a fixed interest on sums invested
- D. have a representative on the Board of Directors
Production is said to be completed when?
- A. goods and services reach the consumers
- B. prices of goods and services are determined
- C. goods are sold to the wholesaler
- D. goods are packaged
Which of the following functions does the wholesaler perform to save the retailer burden of carrying large stocks?`
i Breaking the bulk
ii Packing the goods in smaller containers
iii Providing vital information
iv Grant credit facilities
- A. i and ii
- B. i and iv
- C. ii and iii
- D. i, ii, iii and iv
At equilibrium, one of the distinctive features of monopoly compared with perfect competition is that in the former?`
- A. price is always equal to marginal cost
- B. supply is always equal to demand
- C. price is always higher than marginal cost
- D. there are always many buyers and many sellers
If the price elasticity of demand for a certain commodity is less than unity, then?
- A. an increase in the price of the commodity will raise the total revenue of the producer
- B. an increase in price leaves the total revenue unchanged
- C. a decrease in price raises the total revenue of the supplier
- D. a decrease in price leaves the total revenue constant
If the equilibrium price of a certain commodity is N120.00 and the government fixed its price at N110.00, the supply will be?
- A. greater than the equilibrium supply
- B. smaller than the equilibrium supply
- C. the same as the equilibrium supply
- D. a determinant of the market forces of equilibrium
If profit maximization is assumed to be the objective of a business enterprise, labour must be paid a wage rate equal to the?
- A. marginal revenue of the enterprise
- B. marginal revenue product of labour in the enterprise
- C. average revenue of the enterprise
- D. marginal cost of production
If labour productivity in the cement industry is increasing as output of cement is expanded, then the amount of labour per unit of output produced must be?
- A. less than zero
- B. decreasing
- C. constant
- D. increasing
A firm faces diminishing returns when its?
- A. total output diminishes
- B. average output diminishes
- C. marginal output diminishes
- D. marginal revenue diminishes