Government expenditure on the construction of roads and bridges is
- A. recurrent expenditure
- B. capital expenditure
- C. supplementary expenditure
- D. variable expenditure
The tax imposed on good manufacture within a country is
- A. an excise tax
- B. a capital gain tax
- C. profit tax
- D. a sales tax
which of the following serves as a banker’s bank?
- A. Commercial banks
- B. The Mortgage Bank
- C. The Central Bank
- D. Development Bank
The marketing of government security by the Central Bank is termed
- A. retail banking
- B. open market operation
- C. selective credit control
- D. credit creation
which of the following is specialized in lending money for the purpose of developing real estate?
- A. merchant banks
- B. mortgage banks
- C. discount houses
- D. commercial banks
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The Net Domestic Product is
- A. $55,000
- B. $60,000
- C. $140,000
- D. $165,000
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The National Income is equal to
- A. $45,000
- B. $60,000
- C. $65,000
- D. $195,000
Use the information below to answer these questions
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The Gross National Product is equal to
- A. $40,000
- B. $50,000
- C. $105,000
- D. $125,000
disposable income is total income
- A. less tax
- B. divided by tax
- C. plus tax
- D. multiplied by tax
manufacturing involves the process of
- A. making goods available
- B. providing finished products
- C. changing items to new states
- D. producing capital goods only
The population density of town Y made up of 50 square kilometre land area and 100 million people is
- A. 50,000 people per square kilometre
- B. 0.2 million people per square kilometre
- C. 0.5 million people per square kilometre
- D. 2 million people per square kilometre
what is the effect of pursuit of higher education on the size of labour force?
- A. it makes labour force to be defective
- B. it brings higher wage rate
- C. it increases the size of labour force
- D. it reduces the size of labour force
A market in which a single price obtains for a product is known as
- A. a product market
- B. a capital price market
- C. an imperfect market
- D. a perfect market
which of the following is a condition necessary for a perfect market?
- A. the goods are heterogenous
- B. there is preferential treatment
- C. there is a large number of buyers and sellers
- D. buyers and sellers are easily influenced
One advantage of a sole proprietor is that
- A. it can be managed without conflicts
- B. the sole proprietor raises money from the public
- C. it makes an increase in the volume of business possible
- D. there is no limit to the number pf people who may bring in capital
which of these is true of a perfect competitor?
- A. P = AR < MR
- B. P > AR = MR
- C. P = MR < AR
- D. P = AR = MR
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
- A. the law of variable proportions
- B. increasing returns to scale
- C. decreasing use of inputs
- D. change output during the production period
labour can be efficient when there are
- A. adequate tools to work with
- B. high level of employment
- C. limited vacancies
- D. government restrictions
A society that operates below the production possibility curve is using its productive resources
- A. optimally
- B. efficiently
- C. inefficiently
- D. maximally
which of the following sector is most capital intensive?
- A. insurance
- B. petroleum
- C. commerce
- D. tourism
who among the following is the intermediary between the producer and the retailer?
- A. agent
- B. wholesaler
- C. consumer
- D. distributor