Question 1 of 20 50 total questions
An upward review of the retirement age will affect the
A wage rate
B demand for labour
C supply of labour
D tax rate
The movement of people from rural to urban areas affects the
A occupational distribution of population
B sex distribution of population
C geographical distribution of population
D age distribution of population
The Malthusian theory of population has been rendered ineffective by
A government policies
B natural disasters
C birth contorl measures
D technical progress
Upstream oil activities involve the
A exploration of crude oil
B refining of crude oil
C marketing of finished products
D management of pollution
Industrialization is a prerequisite for balanced economic growth because it
A encourages trade liberalization
B stimulates the development of all sectors
C enhances productivity in the manufacturing sector
D expends employment opportunities in urban areas
Environmental degradation is more associated with
A localization of industries
B location of industries
C decreased urbanization
D urban-rural migration
Foreign investment can be attracted to Nigeria through
A a review of the tax policy
B a review of interest rates
C the revaluation of the naira
D a review of the naturalization policy
A country would develop its agricultural sector first so as to
A stabilize the prices of agricultural products
B stabilize the prices of industrial products
C create a market for the agricultural sector
D create a market for the industrial sector
A major objective of the Federal Government's initiative on cassava production in Nigeria is to
A diversify the export base of the economy
B ensure the availability of cassava
C make cassava a staple food in the country
D provide raw materials for industries
The survival of a partnership depends on
A the managerial ability of the partners
B access to finance
C the goodwill of the partners
D political stability
The minimum number of shareholders for a joint stock company is
The main objective of WTO is to
A help countries with chronic balance of payments problems
B help debtor nations solve their problems
C ensure adequate tariff protection for infant industries
D provide a mechanism for tariff reductions
One of the ways of correcting a deficit balance of payments is to
A revalue a country's currency
B devalue a country's currency
C increase imports
D reduce exports
The gains from international trade are shared on the basis of the
A quantity produced of each of the traded goods
B cost of production of each of the traded goods
C terms of trade
D bilateral trade agreements
In a developing economy, productivity is measured by the
A capital-output ratio
B output growth rate
C output-labour ratio
D output per capita
A continuous increase in national income accompanied by the structural transformation of all indices is called
A economic planning
B economic growth
C economic reforms
D economic development
The monetization policy is an offshoot of
A persistent rise in the prices of inputs will lead to
A hyperinflation
B stagflation
C cost-push inflation
D demand-pull inflation
If the total fixed cost is the same regardless of output, the average fixed cost will be
A increasing
B maximum
C minimum
D decreasing
A characteristic of the linear production function is that
A the percentage change in inputs change exceeds output
B output and all inputs change by the same percentage
C the percentage change in output is greater than one
D the percentage change in output is less than one
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