Public corporation is financed with
- A. Capital raised from shareholders
- B. Tax payer's money
- C. Capital raised from stock exchange
- D. Capital contributed by owners
One major criticism of foreign aid to developing countries is that it
- A. Gives too much power and control to world bank
- B. Encourages growth in government bureaucracy
- C. Is capital using rather than capital saving
- D. Provides incentives for capital flight
The following are economic agents in any economy EXCEPT
- A. Central Bank
- B. House hold
- C. Firm
- D. Government
The term ‘investment’ in macroeconomics means
- A. Profit
- B. Total amount of money invested in bonds and stocks
- C. The total amount of capital goods in the country
- D. The production of goods for immediate consumption
If commodities X and Y are substitute, their cross elasticity of demand will be
- A. One
- B. positive
- C. negative
- D. zero
Which of the following is an example of expansionary monetary policy by the Central Bank of Nigeria?
- A. Lowering income taxes
- B. Increasing the discount rate
- C. Increasing the reserve ratio
- D. Buying Treasury securities from commercial banks
The demand for money will fall if
- A. People expect deflation soon
- B. Real GDP rises
- C. Real interest rates rise
- D. The GDP deflator rises
The law of supply states that, other things being constant, as price increases
- A. Supply increases
- B. Supply decreases
- C. Quantity supplied increases
- D. Quantity supplied decreases
An increase in money income with constant price results in
- A. Outward shift in the budget line
- B. Inward parallel shift in the budget line
- C. Options A and C
- D. Budget line remain constant
Among all the determinants of economic growth, the most important one is
- A. Human capital
- B. Increased GDP
- C. Land and Natural resources
- D. Technologies
A ………… in the price of the domestic currency in terms of a foreign currency is referred to as ………….
- A. Decrease, appreciation
- B. Increase, de-appreciation
- C. Decrease, depreciation
- D. Increase, consolidation
Economic problem occurs when
- A. There is scarcity relative to demand
- B. All raw materials are imported
- C. Many people are out of work
- D. There are no buyers for our goods
Business cycle is associated with
- A. Recession
- B. Unemployment
- C. Seasonal variation
- D. Inflation
Money could be defined as
- A. Options A, B and C
- B. Medium of exchange
- C. Settlement of debt
- D. Medium of payment
The principle that specified that the amount, when and how to pay tax should be made known to tax payer is known as
- A. Principle of economy
- B. Principle of convenience
- C. Principle of simplicity
- D. Principle of certainty
Government uses all of the following ways to redistribute income, except
- A. Market intervention
- B. Transfer earnings
- C. Limited liability
- D. Taxation
………………… is the highest body in ECOWAS organogram
- A. Authority of Head of State and Government
- B. The Executive Secretariat
- C. The Defense Council
- D. Council of Ministers
Real cost is
- A. Alternative commodities forgone
- B. Amount of money spent on goods and services
- C. Cost of goods and services
- D. True cost
What is the lowest price the monopolist can charge
- A. P2
- B. P1
- C. P3
- D. P4
The diagram above represent
- A. perfect competition
- B. mononpoly
- C. demand curve
- D. competitive market