Question 1 of 20 2,540 total questions
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
The equilibrium wage in an economy is determined by the?
A public service
B worker's union
C rate of inflation
D supply and demand for labour
If the growth rate of available resources continuously outpaces that of the population, a country will eventually experience?
A maximum population
B underpopulation
C overpopulation
D optimum population
The middlemen in the chain of distribution are?
A manufacturers and consumers
B wholesalers and retailers
C consumers and wholesalers
D retailers and consumers
Excess demand inflation can be controlled through?
A contractionary fiscal policy
B contractionary trade policy
C expansionary fiscal policy
D expansionary monetary policy
The primary objective of the NDIC is to?
A give protection to the CBN against fraud
B provide regulations guiding the finance houses
C give protection against fraud
D give protection to bank depositors
Creeping inflation implies that there is a?
A gentle and persistent increase in the general price level
B rapid and persistent increase in the general price level
C gentle but not permanent increase in the general price level
D rapid but not permanent increase in the general price level
Liquidity preference refers to the?
A needs to borrow money for short periods to meet some temporary crises
B wish to hold more funds for precautionary purpose
C need to increase the money supply in order to lower the interest rate
D demand to hold money as assets rather than as stocks
Insurance companies invest mainly in instruments trade on the?
A capital market
B Money market
C commodity market
D open market
If a country's GNP in the current year is N65 billion, and the GNP in the base year is N50 billion, the GNP deflator is?
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