which of the following banks grant credit facilities to individuals wishing to build houses?
- A. Central Bank of Nigeria
- B. Nigerian Industrial Development Bank
- C. Agricultural Credit Bank
- D. Federal Mortgage Bank of Nigeria
Commercial banks settle their inter-bank indebtedness through
- A. merchant banks
- B. central banks
- C. development banks
- D. stock exchange
foreign exchange control in most West African countries is is enforced by the
- A. development banks
- B. Merchant banks
- C. ministry of economic planning
- D. Central banks
Inflation can best be checked by
- A. allowing supply to remain constant
- B. decreasing supply and incresing wages
- C. increasing supply and holding wages constant
- D. decreasing supply and wages
Shares and stocks can be bought in the
- A. Commodity market
- B. Stock exchange
- C. Money market
- D. Open market
Which of the following will occur when the market is unstable?
- A. Price will fluctuate
- B. Demand will remain static
- C. Unemployment will surely fall
- D. Price will remain static
Abstention from consumption which enables capital to be produced is called
- A. Savings
- B. Production
- C. Accumulation
- D. Opportunity cost
The most unique quality of money is its
- A. Relative scarcity
- B. Divisibility
- C. Durability
- D. General acceptability
Deficit budget means that government’s
- A. Government expenditure is equal to its revenue
- B. Planned expenditure is more than the estimated income
- C. Planned income and expenditure target cannot be achieved
- D. Expenditure is less than estimated revenue
Which of the following is an item of government recurrent expenditure?
- A. Road construction
- B. Port facilities
- C. Wages and Salaries
- D. Telecommunication projects
Which of the following is an item of government recurrent expenditure?
- A. Road construction
- B. Port facilities
- C. Wages and Salaries
- D. Telecommunication projects
The main feature of regressive taxation is that its rate
- A. is higher when income is higher
- B. is equal tax for all categories of people
- C. remains constant when income increases
- D. reduces when income increses
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
- A. consumer
- B. manufacturer
- C. wholesaler
- D. retailer
The charging of different prices to different group of buyers for the same goods or services is called
- A. monopolistic competition
- B. price determination
- C. price discrimination
- D. monopoly
The demand for a commodity that serves two or more purposes is
- A. competitive demand
- B. complemetary demand
- C. composite demand
- D. derived demand
The income elasticity of a normal goods is
- A. positive
- B. negative
- C. zero
- D. fixed
Average Variable Cost (AVC) curve
- A. is U-shaped
- B. rises from left to right
- C. Slopes upwards
- D. is horizontal to the X-axis
An association of workers in a particular industry, firm or line of job is called
- A. Trade union
- B. Trade association
- C. Chamber of commerce
- D. Assembly of workers
An industry can best be described as
- A. a place where goods are processed
- B. a place where different firms produced different goods
- C. an aggregation of indidvidual firms producing similar commodities
- D. the concentration of various firm in the same locality
The movement along the same curve is a
- A. change in demand
- B. change in quantity demanded
- C. shift in demand
- D. market demand
Wages are to some extent, determined by the
- A. Marginal utility of labour
- B. average utility of labour
- C. marginal productivity of labour
- D. total output of labour