The outward shift to the production possibility curve could be due to
- A. military conquest
- B. increased money supply
- C. inflation
- D. economic growth
- E. massive importation
The developments banks are essentially different from commercial banks because they
- A. medium and long term loans
- B. open current accounts for their customers
- C. discount bills of exchange
- D. are lenders of last resort
- E. carry out open market operations
all the following are different forms of money except
- A. bank notes
- B. demand deposits
- C. coins
- D. currency
- E. bank sellers
the foregone alternative in Economics is simply the
- A. marginal cost
- B. cost of foreign products
- C. total cost
- D. opportunity cost
- E. average cost
The indigenisation policy in Nigeria is aimed at
- A. nationalising foreign businesses
- B. alternating foreign investors
- C. commandeering foreign businesses in Nigeria
- D. expelling foreign investors and taking over their investment
- E. increasing equity participation and control by Nigerians
The largest employment sector in a typical West African country is
- A. construction
- B. transportation
- C. petroleum
- D. agriculture
- E. manufacturing
Division of labour leads to
- A. employment of everybody
- B. decrease in output
- C. monotony of work
- D. increase of time in workshops
- E. increase of time in learning a trade
which of the following is a function of commercial banks?
- A. issuing currencies
- B. accepts deposits
- C. Are the bankers' bank
- D. Determine the rate of interest
- E. increase of time in learning a trade
inflation caused by increase in demand can be curbed by
- A. exporting more goods and services
- B. hoarding of goods
- C. increasing the level of output
- D. increasing the level of money supply
- E. reducing importation
one of the instruments of protection of infants industries is the
- A. price control board
- B. open market operation
- C. tarrif
- D. GDP-deflator
- E. multiplier
the actual output of an economy is the output
- A. which would exist if al resources were fully employed
- B. produced by currently employed labour capital and land
- C. produced in the consumer goods sector
- D. produced in the capital goods sector
- E. produced by agriculture sector
which of the following will not increase the population of a country?
- A. an increase in birth rate
- B. a decrease in death rate
- C. better medical services
- D. immigration
- E. Emigration
The situation whereby government revenue is less than government expenditure is referred to as
- A. budget deficit
- B. balanced budget
- C. budget surplus
- D. budget statement
- E. unfavourable budget
a stock exchange is a market that
- A. deals with the exchange of commodities
- B. deals with purchase and sales of securities
- C. exchanges stockfish for lady fish
- D. exchanges treasury bills for bills of exchange
- E. sells foreign exchange
If the price of product K declines , the demand curve for the complementary product J will
- A. remain unchanged
- B. shift to the right
- C. decrease
- D. shift to the left
- E. slopes upwards
for two commodities A and B, MA and MB are the respective marginal utilities while PA and PB are the respective prices. Marginal utilities of the commodities are maximized when
- A. MA/PA = MB/PB
- B. MA/PA > MB/PB
- C. MA/PA < MB/PB
- D. PA/MA < PB/MB
- E. PA/MA > PB/MB
In the long-run, potential GNP is variable because. I technological change takes place II the quantity of labour and capital is not fixed III. unemployment is not constant
- A. I only
- B. II only
- C. I and II only
- D. I and III only
- E. III only
when the death rate for old people and the infant mortality rate are high , with no migration , there will be in the population a higher number of
- A. younger people in the population
- B. children in the population
- C. old people in the population
- D. women in the population
- E. men in the population
The optimum population of a country is reached when the
- A. production of goodsand sevices is less than optimum
- B. output per head is at its highest with a given volume of resources
- C. total production increases with a given volume of resources
- D. national resources increases as population increases
- E. working population rises at a geometrical rate
which of the following is not a problem in the barter economy?
- A. multiple exchange rate
- B. indivisibility of goods and services
- C. double coincidence of wants
- D. bulkness of commodities
- E. inflation
The value of money is affected by the
- A. speculative motive
- B. price level
- C. transactionary motive
- D. precautionary motive
- E. employment level