The most common index for measuring developments is
- A. the level of illiteracy
- B. the per capita income
- C. nutritional level
- D. population growth rate
Which of the following is part of the capital account of the balance of payments?
- A. Net investment from abroad
- B. import of machinery
- C. insurance
- D. transportation cost
When the demand for foreign exchange exceeds its supply, the value of the domestic currency
- A. appreciates
- B. depreciates
- C. inflates
- D. expands
Invisible trade refers to trade in
- A. services
- B. goods and services
- C. tangible goods
- D. crude oil
Precautionary motive relates to
- A. demand for money
- B. demands for goods
- C. supply of money
- D. supply of goods
The most important function of merchant banks is the
- A. issuing of currency
- B. provision of short term loans
- C. provision of medium and long term loans
- D. provision of short and long term loans
Cost-push inflation is likely to raise when
- A. there is an increase in government spending
- B. there is an increase in direct taxes
- C. demand for higher wages is granted
- D. there is a decrease in banks lending
Which of the following is the function of a central bank?
- A. accepting deposits from the public
- B. lending to the commercial banks
- C. discounting bills of exchange
- D. agent of payment for individuals
A continuous fall in the general price level is called
- A. recession
- B. depression
- C. deflation
- D. stagflation
money becomes a very poor store of value in a period of
- A. deflation
- B. depression
- C. recession
- D. inflation
The demand for money is
- A. derived demand
- B. composite demand
- C. joint demand
- D. complimentary demand
Efficient distribution of goods in West Africa will be facilitated by
- A. poor storage facility
- B. adequate transportation system
- C. high standard of living
- D. high cost of living
one of the factors responsible for low agricultural production in West Africa is
- A. inadequate labour
- B. shortage of lands
- C. inadequate implements
- D. inadequate research
The economic goals of public corporation is to
- A. maximize profits
- B. expand assets
- C. minimize cost
- D. provide essential services
The shares which do not carry any fixed rate of dividend are known as
- A. debenture
- B. cummulative preference shares
- C. ordianry shares
- D. participating preferencial shares
one advantage of the sole proprietor is that
- A. control and supervise is under one man
- B. accounts must be publisized
- C. it is always successful
- D. funds are easy to obtain
Which of the following is a type of business organization?
- A. stock exchange
- B. insurance company
- C. chain stores
- D. co-operatives
The most common type of business in West African countries is
- A. joint-stock companies
- B. sole proprietorships
- C. Partnership
- D. public enterprises
Price elasticity supply measures the responsiveness of quantity supplied to
- A. change in suppliers' income
- B. change in price of otther commodities
- C. a change in the rpice of the commodities
- D. a change in the demand for the products
If the quantity demanded of a commodity increases from 20 to 30 units where there is an increase in price from 4naira to 5 naira, the elasticity of demand is
- A. 0.0
- B. 1
- C. 2
- D. 5
A normal demand curve slopes
- A. downward from left to right
- B. upwards from left to right
- C. downwards from right to left
- D. upwards from the origin