43
In a particular year, the sum of the value added in each sector of the economy was N4550 million
The amount represents the GNP measured by the
- A. factor-price approach
- B. output approach
- C. income approach
- D. expenditure approach
44
Idle cash balances are held for
- A. planned purchases
- B. the purchase of bonds
- C. the purchase of shares
- D. unplanned purchases
45
A discount house is a market where
- A. various bills are exchanged
- B. short-term and medium-term loans are obtained
- C. shares are bought and sold
- D. short-term loans are obtained
46
A major assumption in a perfectly competitive market is that
- A. the number of buyers and sellers is small
- B. individuals cannot influence prices
- C. the quality of products remains the same
- D. prices will always remain constant
47
Above full employment level, an expansionary monetary policy will lead to a
- A. decrease in aggregate supply
- B. fall in the inflation rate
- C. rise in the inflation rate
- D. fall in aggregate demand
48
Given that Y= C+I, where C= 50+0.75 and I = N45m, what is the equilibrium level of income?
- A. N380m
- B. N20m
- C. N180m
- D. N200m
49
In the long run, the equilibrium point of a monoplistic firm is a point where the
- A. marginal cost curve is tangential to the average fixed cost curve
- B. demand curve is tangential to the average variable cost curve
- C. supply cuvre is tangential to the marginal cost curve
- D. demand curv is tangential to the average cost curve
50
The regulatory authority of the capital market in Nigeria is the
- A. Central Bank
- B. Securities and Exchange Commission
- C. Nigerian Deposit Insurance Corporation
- D. Stock Exchange Market