Question 1 of 20 4,545 total questions
Which of the following is the cheapest for the government in improving the welfare of its citizens?
A Subsidy
B Income supplement
C Donation to specific projects
D Wages increase
One method through which the Central Bank can restrict the commercial banks' power of credit expansion is to?
A demand for increased special deposit
B decrease the cash ratio
C buy securities in the open market
D reduce the rate of interests at which banks borrow from it
A bank is said to be distressed when it?
A is unable to deal with the Central Bank
B has a low level of capital base
C has low level of deposits
D experiences serious liquidity crisis
The best method to curb inflation in Nigeria is to
A reduce importation of commodities
B increase the general level of production
C reduce the volume ofmoney supply
D set up price control boards
The sharp increase in the prices of most goods and services during the last quarter of 1994 in Nigeria were mainly due to?
A ban on importation of foreign goods
B population upsurge
C the introduction of value-added tax
D increase in transport costs
the Central Bank's expansionary monetary policy is justified at a period?
A when the inflation rate is high and the economic is experiencing a boom
B of economic depression accompanied by low capacity utilization
C when trade unions are clamouring for higher wages
D when price of crude petroleum is rising
The most important goal of OPEC is to?
A present a united front for the purpose of raising the price of crude oil
B bring unity among the petroleum exporting states
C ensuring political stability among member states
D ensure that rules on quota producion are strictly followed
The major source of Nigeria's foreign exchange is the export of?
A skilled manpower
B palm kernel and cocoa
C crude oil
D groundnuts and cotton
When compared with a labour-intensive industry, a capital-intensive industry employs more?
A workers than capital
B workers than machinery
C raw materials than capital
D machinery than workers
Infant industries denote industries which?
A are introducing new products
B are too young to compete in the world market
C produce baby food and mother care products
D are allowed time enough to mature for recognition
The crucial factors which determine the location of petroleum refineries in Nigeria are availability of raw materials and?
A capital
B political consideration
C nearness to source of power
D labour
The government can influence the price of agriculture products by?
A fixing minimum prices when agricultural output is low
B fixing maximum prices in years of bumper harvest
C the use of buffer stock and stabilization funds
D paying all farmers producing identical crops a uniform amount of money
In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?
A lack of an effective agricultural policy
B employment opportunities in the oil sector
C rural-urban drift
D low prices of agricultural products
Which of the following statement are TRUE of agriculture in Nigeria? (i) it provides food for the growing population?
A i and ii only
B i,ii and iii only
C i, ii and iv only
D ii and iii only
When public enterprises become commercialized, it means that?
A the product of the enterprises are further subsidized
B they are expected to operate with the primary aim of making profits
C the government has decided to divest itself of such enterprises
D the staff of the enterprises will be laid off
One of the major advantages of public enterprises is that?
A they are highly subsidize
B they are the largest employers of labour
C their operations are highly standardized
D they take prompt decisions and actions
The major reason for the survival of small shops despite competition from large business enterprises is because of?
A the small capital outlay involved
B regularity and constant supply of commodities by them
C their local srvices and longer hours of operation
D their level of managerial competence
In a joint stock company, preference shareholders are those who receive?
A high dividends when profits are high and little or nothing when profits are low
B a fixed rate of individend and have the first claim on the net profits of the company
C the remaining profits after all other shareholders have been paid
D dividends quarterly when others receive annually
Stocking small quantities of a variety of goods is a function of the?
A manufacturer
B wholesaler
C retailer
D consumer
Both in the short run and in the long run, a firm maximizes its profits when?
A MC = MR
B AC = MC
C AVC = AC
D MC = AVC
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