Question 1 of 20 50 total questions
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
Find the total credit that the banking system can create if primary deposit is just N100.00 while the cash ratio is 20%
A 700.00
B 600.00
C 500.00
D 400.00
The basic purpose of imposing legal reserve requirements on commercial bank is to?
A assure the profitability of commercial banks
B provide a device through which credit creation by banks can be controlled
C provide a proper ratio between earning and non-earning bank assets
D provide the Central Bank with working capital
Which of the following is likely to be inflationary?
A Tax increase
B increase in unemployment
C Budget surplus
D Wages increase
If the same basket of goods which cost N12.00 in 1985 cost N15.00 in 1987, price index for 1987 is?
Which of the following will be the effect of allowing only economic factors to dedicate the location of industries in Nigeria?
A A more even development of the different parts of the country will be assured
B There will be an unbalanced spread in the distribution of industries
C The less developed parts of the country will be able to attract more industries
D Only the government will be able to finance the establishment of industries
Which of the following factors is the most important in siting a petrol-chemical plants?
A Nearness to the source of raw materials
B Nearness to the source of power
C Availability of labour
D Proximity to financial institutions
Capital provided by individuals to the firm by purchasing stocks is called?
A debt capital
B fixed capital
C circulating capital
D equlity capital
Divorce of ownership from control is a characteristic of?
A sole properitorship
B a limited liability company
C partnership
D a private limited company
A major difference between a state-owned enterprise and a private enterprise is that the former?
A is not expected to cover its costs of production while the latter is
B is not always expected to maximize profits while the latter is
C has shareholders while the latter does not
D has a board of directors while the latter does not
Which of the following reasons could induce a manufacturer to bypass the wholesaler in the distribution chain?
A To provide the quantity needed by retailers
B To collect useful information on his product
C To provide warehousing facilities
D To violate government regulation on distribution
In the distribution channels for goods and services, the middleman's mark-up margin provides a rough measure for the ?
A quantity discounts allowed final consumer
B reward for business enterpreneurship
C effectiveness of government control over the economy's marketing channels
D extent of exploitation of the final consumer
Which of the following is the major function of the wholesaler?
A Bulk breaking
B Provision of useful information to th manufacturer on products
C Provision of after-sales services to consumers
D Provision of warehouse facility
Which of the following is applicable to a monopolistic firm operating at the output where marginal cost equals marginal revenue?
A Cost of production is at a medium
B The plant is of optimum size
C Price is above marginal revenue
D Average variable cost is at a minimum
The tailoring services is competitive partly because it consists of a large number of?
A large-scale enterprises
B medium scale enterprises
C small scale enterprises
D government-owned enterprises
An imperfect market in which there is only one buyer of a commodity is?
A monopsony
B oligopoly
C monoploy
D duopoly
The demand for a product is said to be price inelastic if?
A the price elasticity of demand is less than one
B the price elasticity of demand is greater than one
C a reduction in price results in increase in the quantity demanded
D an increase in price results in a decrease in the quantity demanded
If an increase in income induces a reduction in the demand for beans, beans can be referred to as?
A a normal good
B an inferior good
C a substitute good
D a giffen good
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