Question 1 of 20 2,540 total questions
The non-bank financial institutions that are entrusted with workers contributions towards retirements are
A Mortgage institutions
B Investment companies
C Pension funds custodians
D Pension funds administrators
An advantage of electronic banking is that it
A Enables many customers to operate joint accounts
B Reduces risk of bank fraud
C Enables a customer to operate many accounts from different locations
D Enables a customer to operate his account from different locations
The logical sequence of basic concepts in economics is
A Wants, scarcity, choice and opportunity cost
B Wants , choice, scarcity and opportunity cost
C Scarcity, wants , choice and scale of perference
D Scarcity, choice ,scale of preference and opportunity cost.
If P = \(\frac{1}{2}\)(Qs + 15). What is the quantity supplied at N9.00?
The term ceteris paribus implies that
A Resources are scarce
B Human problems can be solved
C Human beings are unpredictable
D All factors are fully utilized
An increase in the marginal cost of production causes
A A downward movement along the supply curve
B A leftward shift of the supply curve
C A rightward shift of the supply curve
D An upward movement along the supply curve
A firm incurs short-run costs when
A It cannot increase prices
B Operation is at its later stages
C Operation is at its early stages
D Some inputs cannot be varied
When a firm's average revenue curve is downward-slopping , it's price elasticity of demand will be
A Zero
B Greater than one
C One
D Between zero and infinity
The price per unit of a commodity to a buyer is the same as the
A Normal profit of the seller
B Average revenue of the seller
C Marginal cost of the commodity
D Marginal revenue of the seller
What is the median wage?
A N8.00
B N 5.00
C N11.00
D N6.50
The table shows the wage distribution of workers.Calculate the mean wage
A N7.40
B N4.00
C N10.00
D N14.80
What is the marginal productivity when the number of workers is increased from 2 to 3?
The maximum number of workers that should be hired is
The diagram above shows a firm operating under conditions of monopolistic competition. The curve W represents its
A marginal cost
B average cost
C average revenue
D marginal revenue
The labour force of a country best describes
A the number of people in paid employment
B the number of people receiving pension
C people within the retirement age
D people within the working age
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
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