all the following are specific examples of indirect tax except
- A. purchases tax
- B. import duty
- C. export duty
- D. excise duty
- E. poll tax
it is general belief that inflation in West Africa is caused by all the factors listed below except
- A. excessive bank lending
- B. budget deficit
- C. rising incomes
- D. shortage supply
- E. decrease in money supply
which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive
- A. I and II only
- B. I and III only
- C. I, II and III only
- D. I, II and IV only
- E. II, III and IV only
Economics can be best defined as the study of
- A. how to spend the family income efficiently
- B. how to find minimum cost of production
- C. the interpretation of scarce resourceand date
- D. how scarce resource can be used efficiently
- E. why resource are scarce
which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Countries (OPEC)? The
- A. US dollar
- B. Japanese Yen
- C. Pound Sterling
- D. Deutschemark
- E. Naira
The downward sloping of the Average Revenue curve of the monopolist indicates that he
- A. Can control both output and price
- B. Can only break-even
- C. Can control either the output or the price, but not both
- D. Can’t control anything
- E. Exploit the consumer
The reward of a debenture holder of a public company is a fixed rate of
- A. Interest
- B. Return
- C. Dividend
- D. Rent
- E. Allowance
Industry can simply be defined as
- A. Many firms producing different products
- B. A firm or firms producing similar goods and services
- C. Different firms producing different goods
- D. Different firms producing equal number of similar goods and services
- E. Many firms producing unidentical goods and services
which of these does not encourage industrial development?
- A. Tax exemption
- B. Provision of financial institution
- C. Provision of infrastructural facilities
- D. Limitation of markets for industruial products
- E. Government direct participation
which of these does not encourage industrial development?
- A. Tax exemption
- B. Provision of financial institution
- C. Provision of infrastructural facilities
- D. Limitation of markets for industruial products
- E. Government direct participation
Inflation in any economy
- A. Has no monetary connection
- B. Implies a sustained decrease in the general price level
- C. Always increase the value of national currency
- D. Tends to redistribute income arbitrarily
- E. Tends to bring down market prices
Wages are to some extent determine by the
- A. Marginal utility of labour
- B. Marginal productivity of labour
- C. Average productivity of labour
- D. Total productivity of labour
- E. Amount of goods and services that the wage can fetch
A legal tender is any
- A. form of money
- B. means of exchange authorized by the state
- C. commodity generally acceptable as a meduim of exchange
- D. total productivity of labour
- E. amount of goods and services that the wage can fetch
which of the following is the most important reason why wages differ among occupations?
- A. Length and cost of training
- B. Supply of labour
- C. Attractiveness of the job
- D. influence of trade unions
- E. Government decision
The grouping of a population into males and females is known as the
- A. geographical distribution
- B. age distribution
- C. sex distribution
- D. man-woman distribution
- E. occupational distribution
Distribution is part of production because it
- A. Makes goods and services available to the final consumer
- B. Transport the goods from place to place
- C. Offers employment to people
- D. Encourages the provision of good roads, waterways and railways
- E. Links the consumer with the producer
in a rapidly growing economy where human labour is being replaced by machines, there is likely to be
- A. classical unemployment
- B. frictional unemployment
- C. seasonal unemployment
- D. residual unemployment
- E. cyclical unemployment
The money paid per hour or week for work done is known as
- A. cost
- B. time rate
- C. bonus
- D. wage rate
- E. labour
which of the following is not correct?
- A. Population refers to number of people living in a place
- B. The population of a place is not static
- C. Population is known through a census
- D. Population is affected by the amount of money in circulation
- E. Population can be affected by natural disaster
a person who buys in bulk and sells in bit is a
- A. manufacturer
- B. sales representative
- C. retailer
- D. advertiser
- E. distributor
the movement of a worker from one grade to another within the same industry is a form of mobility of labour which is
- A. geographical
- B. vertical
- C. occupational
- D. horizontal
- E. lateral