Question 1 of 20 1,723 total questions
The indicator of the value of money is
A the general price level
B the equilibruim price
C consumer''s income
D the interest rate
A continuous fall in the general price level is called
A recession
B depression
C deflation
D stagflation
The supply of money in the economy includes
A bank notes only
B bank note and coins
C bank notes and bank deposits
D bank notes, coins and bank deposits
Since money is demanded for what it can buy, the demand is said to be
A derived
B joint
C composite
D complementary
A medium of exchange which is generally acceptable is
A bater
B a cheque
C government bond
D money
The national income off a country can be estimated through the
A output approach
B input approach
C empirical approach
D census approach
Which of the following is a disadvantage of large scale production?
A market economies
B managerial economies
C personal organization
D division of labour
Which of the following is a disadvantage of large scale production?
A market economies
B managerial economies
C personal organization
D division of labour
industry can be define as
A several firms producing different commodities
B group of firms producing similar commodities
C different firms producing equal number of commodities
D many firms producing for exports
the main objective of specialization is to
A allocate resources
B limit worker's skills
C increase the use of labour
D increase productivity
agriculture plays a dominant role in our country because
A it is the main source of energy
B it employs more than 50% of the total labour force
C it supplies all the industrial inputs
D there are large plantations of cocoa, groundnut and palm oil
The employer's demand curve for labour is represented by the
A marginal product curve of labour
B total product curve of labour
C average product curve of labour
D total cost curve of labour
The trade unions in West Africa have achieved the following for the workers except
A increased wages
B better condition of services
C competitive determination of wage rate
D improved welfare facilities
which of the following does not affect a country's population?
A birth rate
B death rate
C Emigration
D unemployment
During a sale by auction, the price at which the goods finally sold is determined mostly by
A competition between buyers and sellers
B competition among buyers
C competition among sellers
D government policy
The purely competitive firm should close down when its price is less than its
A average variable cost
B total fixed cost
C average total cost
D marginal cost
equilibrium under perfect competition requires that
A MC = MR but AR < AC
B MR = MC = AR = AC
C AC = AR < MC
D TR < TC
A market situation with a larger number of firms selling closely related but, differentiated products is
A monopolistic competition
B perfect competition
C monopoly
D monopsony
the monopolist can determine
A price and output
B price only
C output only
D price or output
The main characteristics of an ordinary shares are
A maximum risk, fixed dividends, voting rights
B minimum risks, fixed dividends, no voting rights
C maximum risks, variable dividends, voting rights
D minimum risks. fixed dividends, no voting rights
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