Question 1 of 20 2,540 total questions
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
A Consumption expenditure
B Indirect taxes
C Exports and property income from abroad
D Gross Domestic Fixed Capital Formation
If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?
The Malthusian theory of population predicts that growth in food production will?
A keep pace with population growth
B be at a faster rate than population growth
C be at a slower rate tthan population growth
D be more rapid than population growth in the developing countries
Deficit financing is mostly facilitated by the existence of?
A stock exchange market
B commercial bank
C central bank
D capital market
Which of the following is a good example of invisible item on balance of payments account?
A Shipping and aviation
B Export and imports
C Merchandise
D Bullion
When a nation is experiencing balance of payment surplus, it is in a better position to?
A increase its foreign exchange reserves
B increase its liabilities to foreigners
C reduce its foreign exchange reserves
D devalue its national currency
Which of the following would most likely be considered an example of benefit taxation?
A Excise tax
B Corporate income tax
C Property tax
D Highway-user tax
Which of the following is a direct tax?
A Sales tax
B Purchase tax
C Export duties
D property tax
Merchants banks perform all the following functions EXCEPT?
A raising of capital for industry
B provision of current account facilities
C management of investment portfolios
D provision of credit for overseas trade
The rate at which money changes hands is known as the?
A rate of inflation
B velocity of transactions
C velocity of money
D velocity of circulation
In any economy, what is used as money is determined by?
A government acceptance commodity standard
B government acceptance of an inconvertible paper standard
C laws and customs
D its use as a store of value
Which of the following factors enhances the ability of commercial banks to create money?
A Reduction in the reserve ratio
B Leakage of cash out of banking system
C excess of reserves
D Insistence on collateral security
Restriction on credit creation by commercial banks can be effected through?
A an overdraft
B loans and advances
C demand deposits
D liquidity ratio
Localization of industries refers to the?
A tendency to concentrate industries in particular areas
B sitting of industries in certain areas
C deliberate policy of influencing location of industries generally
D zoning of industries
Under partnership, investors who have no desires to be actively involved in the day-to-day management of such organization, are called?
A stockholders
B sleeping partners
C part-time investors
D ordinary partners
The most important limitation on the partner as a form of business enterprise is the?
A implication for partners'liability
B legal limitation placed on the number of partners
C difficulties arising from having two co-ordinate heads of a firm
D fact that each partner regardless of the capital he contributes, must have the same voting rights
In a public company, enterpreneurial functions are performed by the?
A workers
B shareholders
C general manager
D board of directors
The additional revenue obtained by using one more unit of a factor is called?
A average product
B marginal product
C diminishing returns
D marginal revenue product
Price leadership is?
A a form of tacit collusion
B used to explain price rigidity
C illegal in nigeria
D a form of overt collusion
In the short run, the monopolistic competitors?
A always makes profit
B always incurs a loss
C always breaks -even
D may close down
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