Economically, underdeveloped countries are characterized by?
- A. high rate of population growth and low rate of economic growth
- B. high rate of economic growth and low rate of population growth
- C. high rate of population growth aand high rate of economic growth
- D. low rate of population growth and low rate of economic growth
The family Support Programme in Nigeria essentially focuses on?
- A. the generation of employment
- B. the alleviation of poverty
- C. agricultural and industrial development
- D. economic emancipation of women
Which of the following is a transfer payment?
- A. Dividend to a shareholder
- B. Gift to a mothers less babies' home
- C. Salary to a worker
- D. Rent to a landlord
The major objective of economic growth is to?
- A. redistribute income and other benefits of growth
- B. equalize opportunities for education and employment
- C. increase the aggregate expenditure on goods and services
- D. increase real per capital income
A fall in the marginal propensity to save will lead to?
- A. a decrease in national income
- B. an increase in national income
- C. no change in national income
- D. an increase in disposable income
If a country’s national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?
- A. 5%
- B. 15%
- C. 20%
- D. 100%
If a government wants to reduce the level of inflation, it will?
- A. run a budget surplus
- B. run a budget deficit
- C. run a balanced budget
- D. borrow more money
When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?
- A. elasticity of demand for the good
- B. proportion of the consumer's income spent on the good
- C. elasticities of demand and supply of the commodity
- D. availability of substitiutes for the commodity
An increase in government expenditure will lead to?
- A. investment opportunities for foreign investors
- B. an increase in the level of aggregate demand
- C. an increase in total tax revenue
- D. reduction in total tax revenue
A rise in the market price of fixed interest securities is an indication that the?
- A. supply of money has decreased
- B. liquidity preference has increased
- C. market rate of interest has risen
- D. market rate of interest has fallen
An issue of bank-notes not backed by gold but by government securities is known as?
- A. fiduciary isssue
- B. guaranteed money
- C. seignior age
- D. legal tender
If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which receives an initial cash deposit of N3000 is in a position to lend out?
- A. N9,000
- B. N3,330
- C. N2,770
- D. N2,100
Which of the following is true about the value of money?
- A. it varies inversely with the price level
- B. it varies directly with the price level
- C. it depreciates in the period of deflation
- D. it is not affected by the price level
One of the techniques of monetary control used by the Central Bank of Nigeria is?
- A. selective credit control
- B. budget deficit
- C. foreign exchange control
- D. monitoring the general price level
Crude petroleum is a good example of a?
- A. lasting asset
- B. wasting asset
- C. synthetic product
- D. costless resources
The petroleum industry in Nigeria is?
- A. the sole source of the nation's revenue
- B. the oldest industry in the country
- C. the mainstay of the economy
- D. a factor in the decline in the nation's foreign reserves
Export-promotion policy is primary concerned with the?
- A. processing of raw materials to increase their value
- B. making of international routes safe for export commodity
- C. reduction in the number of imported items
- D. encourage of the production of export commodities
In many developing countries, infrastructural problems is acute due to the shortage of?
- A. industries and industrial equipment
- B. savings, investment and consumption
- C. natural resources for development
- D. supporting services that encourage economic activities
A factor that influences the location of a firm near its market is the?
- A. transportation of bulky raw materials
- B. external economies
- C. high cost of transporting finished goods
- D. availability of skilled manpower
An entirely domestic effort directed at improving agricultural production in Nigeria is the?
- A. Agricultural Development Programme
- B. Agro-industrial Development Scheme
- C. Food and Agricultural Organization
- D. National Land Development Authority
The sector that employs the largest proportion of the active labour force in Nigeria is the?
- A. oil sector
- B. federal civil services
- C. financial sector
- D. agricultural sector