Question 1 of 20 4,545 total questions
Who bears the greater burden of the indirect tax when the demand for a commodity is inelastic? The
A wholesaler
B shareholders
C retailer
D consumers
E entreprenuer
The current and capital accounts in Nigeria’s balance of payments contain all the following items except
A oil export
B receipts for shipping services
C cost of aviation
D foreign investment
E IMF Standard Drawing Right (SDR)
Exchange control is a weapon used in regulating
A Internal trade
B Stock exchange
C Foreign exchange
D Barter trade
E Exchange of personal properties
In calculating the Gross National Product (GNP) by the income approach , all the following are included except
A wages and salaries
B direct taxes paid by persons and companies
C rents on houses
D retirement benefits
E business profits
Development banks mainly provides
A savings account facilities for a developing economy
B foreign exchange facilities for importers and exporters
C capital for development of specific sectors
D capital for hire-purchase of machinery
E capital for the development of special banks
Deficit financing means
A receiving grants from the IMF
B having budget surplus
C excessive government spending on banks
D borrowing to finance a budget
E inadequate supply of money from the finance companies
which of the following is a bank's responsibility to it's shareholders?
A making profits
B creating money
C paying high interest rate
D preventing inflation
E issuing currencies
The efficiency of a country's labour force depends on all the following except
A improved working conditions
B better and health care facilities
C adequate training
D stable economy
E frequent strikes and lock-outs
Changes in the value of money can be measured by
A The distributors
B A price index
C A demand index
D A supply index
E The use of cheque
Demand-pull inflation results when there is
A inadequate improvement in the wage rate of workers
B execessive demand due to high purchasing power
C excessive supply of raw materials for production
D rise in productivity of the factors of production
E excessive rise in the standard of living
which of the following market structure are imperfect in competition. I monopoly II duopoly III oligopoly
A I only
B II and III only
C I and II only
D I and III only
E I,II and III only
Monopoly can best be described as a market in which
A A single seller sells a product which has no close substitute
B Few sellers sell a product s at different prices
C The entry of other firms is restricted by the few firms in the market
D Two or more sellers sell a product which is differentiated
E a single buyer buys a product which has no close substitutes
The unemployment associated with decrease in demand is referred to as
A Disguised
B Imposed
C Cyclical
D Voluntary
E Functional
All the following are the economic reasons for establishing public enterprises except the provision of ,
A An avenue for expressing national prestige
B Services at a cheaper cost
C Socially necessary facilities
D Services which are natural monopolies
E Employment opportunities
The Ownership of a Public Limited Company is made up of
A Two to twenty persons
B A minimum of seven shareholders
C A minimum of fifty and maximum of one hundred shareholders
D Two to fifty shareholders
E A maximum of fifty shareholders
In production, factory buildings are regarded as
A Variable cost
B Average costs
C Marginal costs
D Total cost
E Fixed costs
Diminishing return occurs in short run when there is a reduction in the
A Average product of the fixed factor
B Total product of the variable factor
C Total product of the fixed factor
D Marginal product of the variable factor
E Marginal product of the fixed factor
The process that leads to an agreement on the condition of service between employer and employee is termed
A Salary negotiation
B Arbitration
C Collective bargaining
D Conciliation
E Reconciliation
Rents and interest are rewards to
A Labour and capital respectively
B Land only
C Capital only
D Labour and land respectively
E Land and capital respectively
Decreasing returns to scale implies ta if all factors of production are doubled, output will be
A More than doubled
B Less than doubled
C Doubled
D Unchanged
E Trebled
Next
Question Navigator
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
