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Poverty simply refers to the low level of________
The business risks of a public corporation are borne ultimately________
One of these is not a problem of agriculture___________
Assume that, for a certain country in a given year, the index of import prices stands at 102, the index of export prices stands at 106. The terms of trade are (to the nearest whole number)
The birth rate in 1976 for a certain country with a population of 10m was 8.0. This means that in 1976,___________
External economies arises essentially from__________
The basic principle underlying location of industry is the tendency for production of a commodity to be located on the basis of______
Most of the National debts is "dead weight" in the sense that is____
If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the_______
The determination of wages in a labour market depends on the_______
If wage rate is less than the average revenue product, the firms would be earning________
Let capital formation = CF, Production = P, C = consumption. Then CF =_______
Which of the following persons is engaged in "Secondary Production"?
I - a bricklayer
II - an automobile assembly-line worker
III - an accountant
IV - a cinema projectionist
Adam Smith's Theory of value stated that the value of a commodity depended on________
Consider the diagram below which shows a demand curve (d).
Total expenditure on a commodity is represented by the area TUVW. Consumer's surplus is represented by___________
If AC and MC are represented on a graph, the MC curve will cut the AC curve_______
Consider the following figures which refer to a firm's production department during one week:
Wage bill ₦6,000, Rent, Rates, Depreciation ₦200, raw materials ₦800, Power ₦300.
Total variable costs incurred during the week are
A contractionary monetary policy is used to control__________
The term "Money at call and short notice" in a bank's assets represents the bank's loans to______
The second equation of exchange is__________