Question 1 of 20 86 total questions
Monetization refers to the ratio of?
A total transactions to monetary transactions
B monetary assets to total assets
C monetary transactions to total transactions
D money in circulation to total income
Which of the following is NOT directly concerned with dealings in treasury bills?
A The stock exchange
B The Central bank
C Commercial banks
D Discount houses
Because most of her crude oil is exported, the foreign exchange earnings and the forward linkage effects Nigeria realize from her oil production are?
A both high
B respectively high and low
C respectively low and high
D both low
A significant effect of the growth of the oil sector in Nigeria has been to?
A increase the rate of unemployment
B diminish the percentage contribution of the agricultural sector to GNP
C slow down the pace of industrialization
D retard the rate of economic growth
The consumer-goods industry is predominant in the industrial sector of the Nigerian economy because of the?
A availability of market and most of the raw materials required
B availability of the necessary machinery required
C experience of Nigerian producers
D relatively lower cost of production of such goods
Firms are often set up close to each other in order to take advantage of?
A supply or skilled labour
B agglomeration economies
C internal economies of scale
D external economies of scale
The primary barrier to land reform in developing countries is the?
A frequent opposition by the landlords
B realization that output levels might fall
C fear that peasants will be cut off from credit
D general contentment with the present arrangement
Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under?
A the marketing boards
B the commodity boards
C the river-basin authorities
D private investors and individuals
Farmers' income may fall if they produce more cash crops for export because?
A foreign demand is inelastic
B the price of the crops will rise
C of domestic currency depreciation
D of export duties
The type of business finance that entitles the holder to a fixed rate of dividend is?
A perferred stock
B common stock
C debenture
D bank loan
The main reason for the current programme of privatization and commercialization of public enterprises in Nigeria is to?
A reduce public expenditure
B encourage efficiency in the performance of such enterprises
C reduce the number of public enterprises
D raise the prices of goods and services produced by the enterprises
The main handicap of sole proprietorship is?
A limited liability
B lack of technical know-how
C low profit margin
D inadequate capital
An important function of the retailer is to?
A grant credit to the wholesaler
B break bulk and sell products in small units
C reduce cost of distribution
D generate demand for products through advertisement
A firm with marginal cost equals to its marginal revenue will produce the equilibrium output if it is in?
A pure competition only
B pure monopoly only
C monopolistic competition only
D any type of market
The demand curve for a normal good will shift to the left if?
A the incomes of consumers rise
B the price of the goods rises
C the price of complementary goods rises
D advertising expenditure on complementary goods increase
If demand is relatively inelastic and sellers are able to raise the price of their commodity, then there we be a?
A fall in both quantity of demand and total revenue
B fall in the quantity demanded and rise in total revenue
C fall in the quantity demanded and rise in marginal revenue
D rise in both the quantity demanded and the marginal revenue
The price mechanism is more effective in achieving efficient performance of the economy than the planning mechanism because of the?
A role of supply and demand
B role of material incentive
C existence of buyers and sellers
D role of money
The U-shape of the long run average cost curve can be explained by the?
A law of increasing returns
B law of constant returns
C law of diminishing returns
D concepts of economies and diseconomies of scale
The higher the price of capital relative to the price of labour, the more production techniques should be?
A labour-intensive
B capital-intensive
C fixed
D technology-intensive
BY definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation?
A VC =TC + FC
B VC = TC - FC
C VC = TC/FC
D VC = (TC)(FC)
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