43
An economy is described as spend-rift if it
- A. does not concern itself with savings and investment
- B. has a great ability to generate foreign exchange from investment
- C. has greater opportunity to receive large income from investment
- D. invests in income generating industries
- E. has trade connection with other countries
44
45
Which of the following is a characteristic of private enterprises?
- A. business risks are borne by the buyers
- B. capital is provided by the public
- C. control and management of the business is in the hands of customer
- D. the business is owned and run by government
- E. The main aim of setting up the business is to maximize profit
46
Which of the following is NOT a sources of national income statistics?
- A. Foreign trade figure
- B. pay-rolls of various establishment
- C. income tax return
- D. Economic surveys
- E. level of infrastructural development
47
ECOWAS Visa lasts for
- A. 14 days
- B. 30 days
- C. 60 days
- D. 90 days
- E. 100 days
48
A shift of the demand curve leftward from its original position indicate
- A. an increase in quantity demanded
- B. a decrease in quantity demanded
- C. an expansion of demand
- D. a fall in demand
- E. price effect on demand
49
In calculating mean one should
- A. add the highest and the lowest number
- B. divide the highest and the lowest number
- C. divide the sum of the figure by the number of the figure
- D. find the most common number
- E. pick any number that has no partner
50
The aim of indigenization policy was to
- A. build more industries in the economy
- B. increase the drain in foreign exchange
- C. increase foreign domination of the economy
- D. increase the participation of Nigerians in commerce and industry
- E. send all the foreigners away from Nigeria