Question 1 of 20 140 total questions
The types, sources and uses of government income are mainly concerned with?
A public expenditure
B public revenue
C public budget
D public finance
One of the major factors militating against industrialization in Nigeria is the?
A inadequacy of infrastructural facilities
B absence of government participation
C frequent breakdown of equipment
D failure to get foreign partners and supporters
A deficit budget can be used to?
A stimulate recovery from a trade depression
B protect the economy from inflation
C starve the economic of funds for economic development
D provide measures to remedy the balance of payments
ECOWAS has taken a giant step towards economic integration by?
A presenting a united front against foreign economic exploiters
B introducing a common currency for travellers
C holding frequent meeting at various state capitals
D increasing economic stability among members states
One of the major criticisms of the 1992-1968 National development Plan was that?
A it failed to incorporate lessons gained from earlier plans to enhance its efficiency
B it came too quickly after the country's indepedence
C planned expenditure was based too heavily on expected earnings from crude oil
D its execution was based largely on foreign sourced financial resources
Import substitution aims at?
A substituting agricultural products with industrial ones
B substituting imports with agricultural exports
C the diversification of industries
D improving the balance of payments
Which of the following yields more revenue to Nigeria?
A Value added tax
B Royalties
C indirect tax
D Direct tax
One way of correcting the balance of payments problem of a country is to?
A introduce import-promotion measures
B buy investments abroad
C devalue the currency
D de-emphasize import-substitution industries
One of the roles of NNPC in the production and refining of crude oil is to?
A secure maximum government revenue and regulate price
B prevent the smuggling of petroleum products
C satisfy the domestic consumption of petroleum products
D protect the local operators in the petroleum industry
Some of the key indicators of underdevelopment in a country are?
A poverty, high level of literacy and low income
B poverty, low level of literacy and low income
C low level of illiteracy, low income and poverty
D poverty, low incoe and low unemployment level
External finance for a limited liability company is mainly sourced through?
A the leasing equipment
B the issuing of shares
C trade credits
D banks loans
The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to?
A raise the price of the commodity and affect the quantity in an indeterminate way
B decrease the equilibrium quantity and affect the price in an intermediate way
C raise its price as well as the equilibrium quantity
D lower it price while affecting the equilibrium quantity in an interminate way
Under conditions of perfect competition, a firm's supply curve is determined by its?
A total cost curve
B marginal cost curve
C variable cost curve
D fixed cost curve
The economic policy of deregulation is aimed at encouraging?
A a monopolistic market structure
B a duopolistic market structure
C a competitive market structure
D an oligopolistic market structure
In the short-run a firm marginal cost curve above the point of shut-down is its?
A demand curve
B supply curve
C cost curve
D supply curve
The benefits that accrue to a firm as a result of an improvement in the industry it belongs to are called?
A internal economies of scale
B economies of scale
C market economies
D external economies
The short-run equilibrium output for a monopolist is determined by the?
A highest point on the total revenue curve
B minimum point on the average revenue and the average cost curve
C intersection of the average revenue and the average cost curves
D intersection of the marginal cost and marginal revenue curves
As a firm increases its output, the average fixed cost?
A tends to rise continuously
B remains constant
C rises and then falls
D tends to decreased continuously
Improved labour efficiency can be measured by?
A an increase in output-input ratio
B an decrease in output-input ratio
C the constancy of input-output ratio
D an increase in input-output ratio
The Malthusian theory of population growth is often said to be?
A ambiguous
B oversimplified
C pessimistic
D optimistic
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