one of the major functions of money is?
- A. medium of exchange
- B. stable in value
- C. store of value
- D. acceptance by the central bank
A measure of the value of money in an economy is the
- A. size of workers
- B. general price
- C. total level of savings
- D. total amount of loans granted by the banks
which of the following is most likely to be of benefit to a debtor
- A. inflation
- B. deflation
- C. revaluation
- D. monetization
the value added method used in measuring national income is to
- A. measure output at factor cost
- B. avoid multiple counting of output
- C. deduct depreciation of capital assets
- D. add net factor income from abroad
which of the following is a transfer income
- A. dividends
- B. rent
- C. pensions
- D. interest
in an industrial area, the location of industries is particularly influenced by ?
- A. extent of the division of labour
- B. external economies
- C. internal economies
- D. nearness to financial institution
which of the following is a threat to the existence of middlemen
- A. consumers cooperative society
- B. producers cooperative society
- C. sales agents
- D. large scale producers
which of the following is a threat to the existence of middlemen
- A. consumers cooperative society
- B. producers cooperative society
- C. sales agents
- D. large scale producers
The system of agriculture which involves the cultivation of crops and rearing of animals for family consumption only is termed?
- A. peasant farming
- B. plantation agriculture
- C. commercial farming
- D. subsistent farming
which of the following is an implication of a large population
- A. decrease in crime rate
- B. increase in food supply
- C. decrease in standard of living
- D. decrease in cost of living
A civil engineer who accepts to teach elementary science in a primary school because he cannot get a paid engineering job is an example of?
- A. structural unemployment
- B. disguised unemployment
- C. residual unemployment
- D. frictional unemployment
The total number of people of working age who are willing and prepared to work at a given wage rate is the
- A. labour force
- B. supply of labour
- C. demand of labour
- D. occupational demand for labour
if a state owned firm is sold through the stock market, the organisation becomes?
- A. partnership
- B. private company
- C. public limited company
- D. public corporation
Equity shares form the bulk of the capital of a?
- A. private firm
- B. public company
- C. statutory company
- D. limited partnership
which of the following is trueof the monopolist
- A. his average revenue curve is horizontal
- B. He determines both price and output
- C. his demand and marginal revenue curve are the same
- D. he determines either price or output
The amount of money that a firm recieves from the sales of its output is called
- A. total profit
- B. total revenue
- C. total cost
- D. average revenue
which of the following can be added to a firm’s profit to obtain total revenue
- A. total variable cost
- B. total fixed cost
- C. marginal cost
- D. total revenue
The specialization of labour enhances production because people?
- A. can concentrate on all goods
- B. can efficiently produce their own needs
- C. can save time and produce more
- D. become experts in all areas of production
when a firm is enjoying internal economies of scale, its?
- A. total cost of production is increasing
- B. average fixed cost is rising continuously
- C. average cost of production decreases as output increases
- D. average revenue and marginal revenue are decreasing
Another term for equilibrium price is?
- A. price floor
- B. demand price
- C. market clearing price
- D. satisfactory price
parallel markets are usually the results of
- A. excess supply
- B. the activities of rich individuals
- C. price legislation
- D. inadequate information