The table above shows a demand schedule for eggs. What is the equilibrium price?
- A. N 100
- B. N110
- C. N60
- D. N80
The diagram shows the total utility curve. At the point M, marginal utility
- A. increases
- B. is unity
- C. diminishes
- D. is zero
A country with over-valued currency will?
- A. expect balance of payments surplus
- B. have increased demand forthe exports
- C. increase her foreign reserve
- D. decreased her foreign reserve
The major reason why nations engage in international trade is that?
- A. it allows free movement of factors of production
- B. it makes possible the use of capital-intensive method of production
- C. nations are substantially different in their endowments of economic resources
- D. it affords the trading nations the opportunity to earn high profit
The loans from the World Bank to developing countries are mainly to support?
- A. the establishment of more universities
- B. capital-intensive technology
- C. infrastructural investments
- D. their low level of consumption
GNP is not a good measure of social welfare because there are unrecorded?
- A. indirect taxes
- B. social costs
- C. government subsidies
- D. transfer payments
If the labour force in a given community is 2,000,000, in the wage employment 200,000 and the unemployed are 80,000, what is the unemployment rate in the community?
- A. 0.4%
- B. 40.0%
- C. 10.0%
- D. 4.0%
In order to accelerate economic development, a country must?
- A. stimulate her population growth rate
- B. pursue a high population growth rate
- C. pursue a rational population policy
- D. pursue an incremental population policy
Money may not be accepted as a store of value if?
- A. its value is unstable
- B. it is easily transferable
- C. its value is stable
- D. it is easily divisible
The distribution channel that contributes most to the cost of production is?
- A. producer-wholesaler-consumer
- B. producer-retailer-consumer
- C. producer-retailer-wholesaler-consumer
- D. producer-wholesaler-retailer-consumer
National debts is an expected outcome of?
- A. deficit budget
- B. consolidation budget
- C. balanced budget
- D. surplus budget
The reduction of high fertility rate is a measure in population control designed to make the?
- A. female population higher than the male
- B. female and male population equal
- C. male population higher than the female
- D. growth in population more sustainable
In Nigeria, revenue sharing from the federation Account is between the?
- A. executive, the judiciary and the legislature
- B. federal and state governments and the parastatals
- C. federal and state governments and the senate
- D. federal, state and local governments
The efficiency of labour can be increased by?
- A. constant training of workers
- B. retirement of workers on a regular basis
- C. engaging expatrirates only
- D. placing an embargo on recruitment
An increase in the discount rate is an indication of a central bank’s intention to pursue?
- A. an expansionary monetary policy
- B. a disciplined monetary policy
- C. a dynamic monetary policy
- D. a contractionary monetary policy
Economic growth can be accelerated through?
- A. balancing of savings and consumption
- B. postponement of current consumption
- C. planned current consumption
- D. increased current consumption
In national income accounting, NNP is derived by subtracting from the GNP?
- A. transfer payments
- B. indirect taxes
- C. allowance for wastage
- D. capital consumption
The capital market is a market for trading of financial assets such as?
- A. bankers' acceptances
- B. treasury bills
- C. long-term securities
- D. commercial papers
The price paid for labour services is the?
- A. commission rate
- B. wages rate
- C. income rate
- D. salary rate
A tax that increases at a higher percentage as income increase is called?
- A. a proportion tax
- B. a regressive tax
- C. a progressive tax
- D. an income tax
The raising of funds by selling stocks to the public is called?
- A. equity financing
- B. stock financing
- C. debt financing
- D. loan financing