When a foreigner on a visit to Nigeria pays for hotel accommodation and meals with some foreign currency,the amount paid should be recorded in Nigeria’s balance of payment as an item of?
- A. Nigeria's invisible export trade
- B. Nigeria's import trade
- C. Nigeria's invisble trade
- D. foreign capital inflow into Nigeria
If a country has a balance of payment crisis, which of the following measures can best bring about a improvement in the short run?
- A. Large-scale importation of foreign goods
- B. Investment in capital market abroad
- C. Large-scale export of locally made abroad
- D. Repayment of debt to her creditors
If an economy grows at an annual rate of 5% of which 3% is deemed to be due to improvement in the productivity of labour and capital combined the remaining 2% is generally attributed to?
- A. the size of population
- B. technical progress
- C. the environment
- D. the amount of natural resources
Which of the following combinations is a veritable set of development indicators?
- A. Growth of governemnt expenditure and imports
- B. Growth of population and national income
- C. High fertility, literacy and school enrolment rates
- D. Low infant mortality and high per capital income and literacy rates
In national income accounting, aggregate saving in any year is defined as?
- A. all disposable income not spent on consumption
- B. all savings deposits in all banks during the year
- C. all savings and time deposits in all banks during the year
- D. the value of inventory change for the year
\(\begin{array}{c|c}
& \text{Year 1} & \text{Year 2} \\
\hline
\text{GNP at current prices(NM)} & 20,000 & 27,000 \\ \hline
\text{Population(Million)} & 20 & 24 \\
\end{array}\)
Calculate the GNP per head of the population in year 1 and year 2.
- A. N2000.00, N1000.00
- B. N1125.00; N2000.00
- C. N1000.00, N2000.00
- D. N1000.00; N1125.00
\(\begin{array}{c|c}
& \text{Year 1} & \text{Year 2} \\
\hline
\text{GNP at current prices(NM)} & 20,000 & 27,000 \\ \hline
\text{Population(Million)} & 20 & 24 \\
\end{array}\)
What is the percentage increase in GNP between year 1 and year 2?
- A. 3.5.0%
- B. 14.0%
- C. 20.0%
- D. 35.0%
An account from which allocations are made to the three tier of government in Nigeria is called the?
- A. National Income Account
- B. Public Sector
- C. Federation account
- D. National Revenue Mobilization Account
The objective of public finance is to promote?
- A. full employment, national income and price stability
- B. government revenue drive and expenditure to as high a level as possible
- C. the expansion of government social services
- D. government revenue drive and minimize government expenditure
When interest rates are high and still rising the least-cost method used by public limited companies to obtain additional funds for their operations is by?
- A. obtaining life-term loans from merchant banks
- B. obtain short-term loans from commercial banks
- C. selling floating-rate debenture stocks to the general public
- D. selling new ordinary shares to the general public
To reduce the high rate of inflation in the economy, the government should?
- A. increase taxes and have a budget surplus
- B. increase taxes and have a budget defilicit
- C. decrease taxes and have a budget defilicit
- D. decrease taxes and have a balance budget
The total amount of money in circulation includes cash?
- A. and current account
- B. owned by banks and the non-bank public
- C. and current acount balances owned by banks and non-bank public
- D. owned by banks, the government and the non-bank public
The best way to reduce the supply of money in the economy is to?
- A. increase the liquidity ratio
- B. increase the number of bank-notes and cheques produced
- C. decrease treasury bills
- D. liberalize access to credit
Monetization refers to the ratio of?
- A. total transactions to monetary transactions
- B. monetary assets to total assets
- C. monetary transactions to total transactions
- D. money in circulation to total income
Which of the following is NOT directly concerned with dealings in treasury bills?
- A. The stock exchange
- B. The Central bank
- C. Commercial banks
- D. Discount houses
Because most of her crude oil is exported, the foreign exchange earnings and the forward linkage effects Nigeria realize from her oil production are?
- A. both high
- B. respectively high and low
- C. respectively low and high
- D. both low
A significant effect of the growth of the oil sector in Nigeria has been to?
- A. increase the rate of unemployment
- B. diminish the percentage contribution of the agricultural sector to GNP
- C. slow down the pace of industrialization
- D. retard the rate of economic growth
The consumer-goods industry is predominant in the industrial sector of the Nigerian economy because of the?
- A. availability of market and most of the raw materials required
- B. availability of the necessary machinery required
- C. experience of Nigerian producers
- D. relatively lower cost of production of such goods
Firms are often set up close to each other in order to take advantage of?
- A. supply or skilled labour
- B. agglomeration economies
- C. internal economies of scale
- D. external economies of scale
The primary barrier to land reform in developing countries is the?
- A. frequent opposition by the landlords
- B. realization that output levels might fall
- C. fear that peasants will be cut off from credit
- D. general contentment with the present arrangement
Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under?
- A. the marketing boards
- B. the commodity boards
- C. the river-basin authorities
- D. private investors and individuals