Question 1 of 20 4,545 total questions
THE RELATIONSHIP BETWEEN TAX RATE AND INCOME WHICH IS RELEVANT TO A PROPORTIONAL TAX IS DEPICTED BY
A CURVES Z AND Y
B CURVE X
C CURVE Z
D CURVE Y
The relationship between tax rate and income which is relevant to a progressive tax is shown by
A curve X
B curveY
C curve Z
D curve X and Z
The lower half of the diagram indicates
A the flow of goods and services
B payments for goods and services
C the flow of income
D government transactions
The flow labelled Y refers to
A real income
B factor payment
C factor input
D national income
Agriculture is central to Nigeria''s economic development because?
A Nigeria''s comparative advantage lies mainly in agro-allied industries
B agriculture is the largest employer of labour
C agriculture accounts for an insignificant domestic product
D Nigeria earns limitless foreign exchange from agriculture
The most common index used for measuring development is?
A the level of literacy
B per capita income
C nutritional levels
D population growth rate
Social overhead capital refers to?
A balanced growth
B gross investment
C the building of infrastructures
D capital formation
in equilibrium, injections are equal to?
A withdrawals
B surplus of imports over exports
C government spending
D wages
Disposable income is an income which?
A is available for consumption and savings
B pensioners receive from the government
C is payable to the disable members of the community
D accures to the environmental sanitation authorites for refuse disposal
The system of measurement of national income as the sum of all final demands is called?
A income approach
B expenditure approach
C value-added
D final demands approach
If the government invest the sum of N1,000,000.00 and the marginal propensity to consume is 0.75, what is the change in income?
A N1,000 000.00
B N4,000 000.00
C N6,000 000.00
D N14,000,000.00
If birth rate is constant and death rate declines, population?
A falls
B expands
C stabilizes
D oscilates
Which of the following is likely to hinder labour mobility in Nigeria?
A Higher wages elsewhere
B Cultural similarities
C Good accommodation elsewhere
D Ignorance of job opportunities elsewhere
Import duties will increase total expenditure on imports if the demand for imports is?
A elastic
B inelastic
C infinitely elastic
D derived
Which of the following is a tariff?
A Limit on the amount of goods which can be imported
B Inteest rate on foreign loans
C Government payment to domestic producers for exports
D Tax on imported goods
Which of the following is likely to reduce a surplus in the balance of payments of a country?
A Devaluation
B Increased tariff on imports
C Export promotion
D Currency appreciation
Balance of trade is the difference between?
A exports and imports of goods and services
B capital inflows and capital outflows
C visible and invisible balances
D exports and imports of goods
Under a system of freely floating exchange rates an increase in the international value of a country's currency will cause?
A its exports to rise
B its imports to rise
C gold to flow into that country
D its currency to be in surplus
A tax on a commodity whose supply is perfectly inelastic is?
A shifted completely on the consumer
B completely borne by the supplier
C dividend in the ratio 60;40 between the consumer and the supplier
D divided half-and-half between the producer and the consumer
Which of the following is a liability of a commercial bank?
A Deposits in bank
B loans made by the bank to individuals
C loans made by the bank to other banks
D Bonds purchased by the bank
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