Question 1 of 20 4,545 total questions
Economic growth can be accelerated through?
A balancing of savings and consumption
B postponement of current consumption
C planned current consumption
D increased current consumption
In national income accounting, NNP is derived by subtracting from the GNP?
A transfer payments
B indirect taxes
C allowance for wastage
D capital consumption
The capital market is a market for trading of financial assets such as?
A bankers' acceptances
B treasury bills
C long-term securities
D commercial papers
The price paid for labour services is the?
A commission rate
B wages rate
C income rate
D salary rate
A tax that increases at a higher percentage as income increase is called?
A a proportion tax
B a regressive tax
C a progressive tax
D an income tax
The raising of funds by selling stocks to the public is called?
A equity financing
B stock financing
C debt financing
D loan financing
An industry is?
A company producing unrelated commodities
B group of firms producing related commodities
C group of firms producing distinct commodities
D firms producing differentiated commodities
To facilitate the exportation of crude oil from Nigeria, special?
A airstrips were constructed for jets to evacute the oil
B roads were built to connect the major oil wells to the ports
C pipelines were laid to connect the major oil wellsto the ports
D railway lines were constructed to connect the major oil wells to the ports
The losses suffered by a sole proprietor are?
A usually equal to the amount invested
B usually less than the amount invested
C limted to the amount invested
D not limited to the amount invested
A disadvantage of concentrating industries in an area is that it could?
A lead to conclusion among the firms
B result in evironmental pollution
C bring about diseconomies of scale
D increase the cost of production
In the agricultural sector, improved extension services facilitate?
A acquistion of techniques
B arable crop production
C mobility of labour
D livestock production
Which of the following is an example of a fixed cost?
A Fuel cost
B Electricity bill
C Rent on building
D Transportation cost
A major advantage of specialization and division of labour is that?
A time wastage will be minimized
B trade unions will be encouraged
C there will be a ready market for labour
D workers will be adequately rewarded
A production function relates?
A cost to output
B wages to profit
C cost to input
D output to input
An imperfect market exist where?
A the product is homogenous
B there is perfect information among sellers
C both buyers and sellers have free entry into and free exits from the market
D the location of some sellers gives them an advantage over others
If government fixes price below the equilibrium price, what effect will it have on demand?
A Quantity demanded and supplied will be equal
B Quantity supplied will be greater than quantity demanded
C Quantity demanded will increase
D Quantity demanded will decrease
An important feature of perfect competition is that?
A the movement of goods and services is restricted
B there is adequate knowledge of existing prices
C prices are centrally administered
D individual economic units can influence prices
The long run is a period during which a firm?
A sells inputs to purchase fixed assets
B varies all its inputs
C sources all its inputs from within
D replaces all its inputs
In the long-run, a monopolist maximized his profit when the marginal cost equals?
A total revenue
B marginal revenue
C average revenue
D price
Internal economies of scale are expected to bring about?
A an increase in short-run average cost
B an increase in long-run average cost
C a decrease in long-run average cost
D a decrease in short-run average cost
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