Question 1 of 20 1,723 total questions
Unemployment that arises because of introduction of new machines and equipment in production is called
A cyclical
B structural
C seasonal
D disguised
which of the following banks grant credit facilities to individuals wishing to build houses?
A Central Bank of Nigeria
B Nigerian Industrial Development Bank
C Agricultural Credit Bank
D Federal Mortgage Bank of Nigeria
Commercial banks settle their inter-bank indebtedness through
A merchant banks
B central banks
C development banks
D stock exchange
foreign exchange control in most West African countries is is enforced by the
A development banks
B Merchant banks
C ministry of economic planning
D Central banks
Inflation can best be checked by
A allowing supply to remain constant
B decreasing supply and incresing wages
C increasing supply and holding wages constant
D decreasing supply and wages
Shares and stocks can be bought in the
A Commodity market
B Stock exchange
C Money market
D Open market
Which of the following will occur when the market is unstable?
A Price will fluctuate
B Demand will remain static
C Unemployment will surely fall
D Price will remain static
Abstention from consumption which enables capital to be produced is called
A Savings
B Production
C Accumulation
D Opportunity cost
The most unique quality of money is its
A Relative scarcity
B Divisibility
C Durability
D General acceptability
Deficit budget means that government’s
A Government expenditure is equal to its revenue
B Planned expenditure is more than the estimated income
C Planned income and expenditure target cannot be achieved
D Expenditure is less than estimated revenue
Which of the following is an item of government recurrent expenditure?
A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects
Which of the following is an item of government recurrent expenditure?
A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects
The main feature of regressive taxation is that its rate
A is higher when income is higher
B is equal tax for all categories of people
C remains constant when income increases
D reduces when income increses
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
A consumer
B manufacturer
C wholesaler
D retailer
The charging of different prices to different group of buyers for the same goods or services is called
A monopolistic competition
B price determination
C price discrimination
D monopoly
The demand for a commodity that serves two or more purposes is
A competitive demand
B complemetary demand
C composite demand
D derived demand
The income elasticity of a normal goods is
A positive
B negative
C zero
D fixed
Average Variable Cost (AVC) curve
A is U-shaped
B rises from left to right
C Slopes upwards
D is horizontal to the X-axis
An association of workers in a particular industry, firm or line of job is called
A Trade union
B Trade association
C Chamber of commerce
D Assembly of workers
An industry can best be described as
A a place where goods are processed
B a place where different firms produced different goods
C an aggregation of indidvidual firms producing similar commodities
D the concentration of various firm in the same locality
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