Which of the following is the source of raising funds for a public limited liability company in West Africa?
- A. Bank loans
- B. issue of shares
- C. issue of debentures
- D. ploughing back profits
- E. Sales of bonds
Which of the following is not a feature of a perfect market?
- A. large number of buyersand sellers
- B. Homogeneity of products
- C. Preferential treatment
- D. Absence of transport cost
- E. Perfect knowledge of market situation
Balance of trade can be define as
- A. the value of import in relation to the value of a country's exports
- B. the price ratio of imports as against that of exports
- C. equality in the total receipts and payments of a country in a year
- D. percentage value of imports over percentage value of exports
- E. price of exports versus price of imports
Terms of trade simply means the price
- A. ratio of import to export
- B. ratio of export multiplied by import
- C. ratio of export to import
- D. ratio of export multiplied by price ratio of import
- E. of export minus price of import
Net National Product (NNP) is equal to the
- A. Gross Domestic Product (GDP) less depreciation
- B. Gross National Products (GNP) less depreciation
- C. Gross Domestic Products (GDP) plus depreciation
- D. Gross National Products (GNP) plus depreciation
- E. Gross National Income plus Taxation
Which of the following best describes the multiplier?
- A. products of income and expenditure
- B. Curves of savings and expenditure
- C. Ratio of change in income to the expenditure that brought it about
- D. Constant level of income
- E. Equality of marginal propensity to consume and save
A tax whose rate increases as income increases is
- A. an indirect tax
- B. a progressive tax
- C. a regressive tax
- D. a direct tax
- E. a proportional tax
The real value of money is
- A. its face value
- B. what it can buy ata a particular time
- C. its rate of exchange with other currencies
- D. its intrinsic worth
- E. its rate of circulation
A budget is define as a
- A. Summary of expected expenditure by individuals and government
- B. summary of expected income
- C. record of value of services rendered in a year
- D. record of goods produced in a year
- E. summary of expected income and expenditure
The greatest foreign exchange earner for Nigeria before the advent of petroleum was
- A. mining
- B. handicraft
- C. agriculture
- D. manufacturing
- E. tourism
If a monopolist is attempting to maximize profit , which of the following should he attempt to do?
- A. Equate average cost to average revenue
- B. Equate marginal cost to marginal revenue
- C. Equate marginal cost to average revenue
- D. fix price and output
- E. Equate price to total cost
A point along a consumer’s indifference curve shows
- A. the difference commodities he can consume
- B. a combination of all commodities he is willing to buy
- C. a combination of two commodities from which he derive the same satisfaction
- D. the quantity of commodities demanded by him
- E. the difference between quantity supplied and quantity demanded
Which of the following constitute the major components of money supply in a development economy?
- A. Demand deposits
- B. Paper money
- C. Bank drafts
- D. Coins
- E. Time deposits
Which of the following does not give a characteristics of money?
- A. Durable
- B. Portable
- C. Divisible into small units
- D. Generally acceptable
- E. Medium of exchange
At optimum population level, a country has its
- A. maximum population
- B. ageing population
- C. highest birth rate
- D. highest output per heade
- E. lowest death rate
Malthus observed in his theory that population was growing
- A. at a regular rate
- B. in arithmetical progression
- C. in geometrical progression
- D. in mathematical progression
- E. in trigonometrical progression
Which of the following is not a function of an insurance company?
- A. Mobilization of funds through premiums collected
- B. Encouragement of savings habits through life assurances
- C. Collection of deposits from the public
- D. Granting of loans on long-term basis for investment
- E. Encouragment of investment by security of capital
Which of the following does not require the use of information from census?
- A. allocating central government revenue among states or regions
- B. planning for development in the states of regions
- C. Demarcating constituencies for election in the states or regions
- D. providing adequate social amenities and services in the states or regions
- E. Controlling geographical mobility of labour among the states or regions
In perfect competition , the marginal cost curve intersects the average cost curve
- A. from below at its lowest point
- B. from above at its lowest point
- C. from below before the lowest point
- D. at the zero point
- E. from below after the lower point
The effect of an increase in price on the demand for a commodity with elastic demand will be
- A. an increase in the demand for the commodity
- B. a decrease in the demand for the commodity
- C. a further increase in the price of the commodity
- D. reduction in the number of the distributors of the commodity
- E. a general increase in the cost of the production
Which of the following explains marginal cost?
- A. Overhead cost plus variable cost resulting from production
- B. the average cost of producing more units of the products
- C. The extra cost of producing more units of products
- D. Overhead cost minus variable cost
- E. The additional to total cost resulting from the production of an additional unit