Question 1 of 20 4,545 total questions
The movement of goods and services from the producers to the consumers is referred to as
A external trade
B the distribution chain
C the circular flow
D consumption
The downstream activities of oil companies in Nigeria involve
A refining and distribution
B prospecting and exploration
C off-shore drilling
D management of spillage and pollution
The distinction between perfect competition and monoplistic competition is that the latter is characterized by
A a single market price
B many buyers and sellers
C product differentiation
D homogeneity of product
GDP differs from GNP because GDP
A is inclusive of depreciation
B emphasizes the final goods and service produced within the country at a particular period
C emphasizes the goods and services within the country
D emphasizes the market value of all final goods and services produced by nationals
Which financial institution is charged with the formulation of monetary polices in Nigeria?
A The Central Bank of Nigeria
B The Nigeria Deposit Insurance Corporation
C The Abuja Commodity Exchange
D The Lagos Stock Exchange
The capital market provides business firms with the avenue to
A lease capital equipment
B obtain long-term funds
C obtain short-term funds
D purchase capital equipment
In an open economy, the GNP is measured as
A C+I+G+X
B C+I+G+(X-M)
C C+I+G+M
D C+I+G
The primary function of non-bank financial institutions is to
A manage investment portfolios for government
B mobilize savings for investment
C grant loans to banks
D receive deposits from banks
At the maximum point of the total product curve of a firm, marginal revenue is
A decreasing
B increasing
C constant
D zero
The role of the Central Bank in the economic development of Nigeria is to
A give short-and medium-term loans to the public
B give financial and technical advice to customers
C use cheques and bankdrafts to faciliate business transactions
D maintain a stable price system
By advertising, a monopolistic competitive firm tries to shift its
A supply curve to the right
B demand curve to the right
C supply curve to the left
D demand curve to the left
Given that Y = C + I and C = bY where b = 0.8, what is the multiplier?
What is meant by utility?
A amount of money derived by a manufacture
B A number of things a consumer will enjoy at a time
C amount of satisfaction derive from the consumption of a commodity at a particular time
D amount of satisfaction giving to a producer
E total profit producers will get at a particular time
Minimum price control is aimed at
A increasing the size of the market
B minimizing the profit level
C punishing the consumers
D protecting the consumer
E reducing the size of the market
Central bank of Nigerian started operation
A 1958
B 1959
C 1960
D 1963
E 1973
Which of the following is NOT a factor determining supply?
A cost of production
B climatic condition or weather
C income of the producers
D number of producers
E technological development
The central point of the Malthusian theory is that
A everybody should become a farmer
B government should provide enough accommodation and food
C increasing population will get enough food
D population increase in geometric progression while food arithmetic progression
E wages has nothing to do with cost of living
In the demographic transition theory, stage II represents a stage where
A declining birth rates with low death rates lead to little or no population growth
B high birth rate with low death rates lead to no population growth
C there is population growth due to high birth rates and low death rates at that stages
D there is a slow rate of population growth as a result of high birth rate accompanied by high but slightly fluctuating death rate
E there is a very high growth as population as a result of high birth rates accompanied by high but slightly fluctuating death rates
Economic growth is the
A growth in a nation’s life expectancy
B increase in a nation’s population
C rate of increase in aggregate demand in a country
D rate of increase in a country’s full employment and real output
E rate of increase
Which of these is NOT a basic economic problem of society?
A efficiency of resource use
B for whom to produces
C how to produce
D scale of production
E what to produce
Next
Question Navigator
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
