The population of a country in a certain year was fifty million and her per capita income was $2,050. What was the national income?
- A. $750,000 million
- B. $100,250 million
- C. $102,500 million
- D. $125,050 million
If the population of a country is low and the Gross National Product is high, the per capita income will be
- A. high
- B. low
- C. average
- D. unitary
The Net National Product (NNP) is Gross National Product (GNP) less
- A. domestic product
- B. foreign product
- C. depreciation
- D. investment
A country whose economy is buoyant is likely to have
- A. a weak currency
- B. devaluation from time to time
- C. a strong currency
- D. balance of payment problem
Monetary control measure are coordinated by
- A. Development banks
- B. Merchant banks
- C. comercial banks
- D. the central banks
Which of the following is an example of direct tax?
- A. import duties
- B. income tax
- C. export duties
- D. purchase tax
If tax takes a large proportion of the income of people with lower income, the tax is
- A. progressive
- B. proportional
- C. regressive
- D. investment
Which of the following institutions assists the government in managing the national debt?
- A. Commercial banks
- B. The Central banks
- C. The capital market
- D. The World bank
A foreign exchange market deals in
- A. treasury bills
- B. currencies
- C. government bonds
- D. commodities
A non-bank financial intermediary which is regarded as a pool of risks is the
- A. co-operative society
- B. stock exchange
- C. insurance company
- D. post office
which of the following financial institutions was originally known as a Building Society?
- A. Development banks
- B. insurance company
- C. Mortgage banks
- D. merchant banks
which of the following is true under rapid inflation? People
- A. demand less foreign exchange
- B. set up businesses
- C. rush to pay their taxes
- D. hardly wants to lend money
The value of money is generally measured in relation to the
- A. interest rate charged on the bank loans
- B. general price level
- C. size of a country's gold stock
- D. volume of imports
Long-term loans can be secured from
- A. Commercial banks
- B. discount houses
- C. development banks
- D. acceptance houses
A certain amount of money is needed for everyday expenditure like buying of goods, transportation and others. This is
- A. transaction demand for money
- B. precautionary demand for money
- C. derived demand for money
- D. speculative demand for money
The most important quality of money is that it must be
- A. relatively scarce
- B. generally acceptable
- C. portable
- D. durable
To promote the development of agricultural sector, government of West African countries should
- A. encourage rural-urban drift
- B. discourage foreign investment in agriculture
- C. support the marketing of farm produce
- D. reduce tarrif of food imports
An example of a producer goods is a
- A. tin of milk
- B. hammer
- C. loaf of bread
- D. shirt
A negative effect of the presence of a large number of middlemen in the distributive network is
- A. greater variety of goods
- B. greater quality of goods
- C. lower price of goods
- D. higher price of goods
which of the following is a middleman in the chain of distribution?
- A. An entrepreneur
- B. a producer
- C. a banker
- D. a retailer
the return of investment that is just sufficient to satisfy the owner of a business is called?
- A. economic profit
- B. business profit
- C. normal profit
- D. excess profit