Question 1 of 15 135 total questions
Maximum wage legislation seeks to
A fix wages above the equilibrium wage rate
B set wages below the equilibrium wage rate
C deter employers from exploiting their employees
D ensure an upper limit to the wages payable
A major cause of the slow pace of industrialization in Nigeria is inadequate
A raw materials
B landmass
C skilled labour
D communal labour
The purpose of conducting a census is to enable a country to
A plan her capital inflow and outflow
B determine the optimum level of population
C determine the growth rate of population
D plan her growth and development
The movement of goods and services from the producers to the consumers is referred to as
A external trade
B the distribution chain
C the circular flow
D consumption
The downstream activities of oil companies in Nigeria involve
A refining and distribution
B prospecting and exploration
C off-shore drilling
D management of spillage and pollution
The distinction between perfect competition and monoplistic competition is that the latter is characterized by
A a single market price
B many buyers and sellers
C product differentiation
D homogeneity of product
GDP differs from GNP because GDP
A is inclusive of depreciation
B emphasizes the final goods and service produced within the country at a particular period
C emphasizes the goods and services within the country
D emphasizes the market value of all final goods and services produced by nationals
Which financial institution is charged with the formulation of monetary polices in Nigeria?
A The Central Bank of Nigeria
B The Nigeria Deposit Insurance Corporation
C The Abuja Commodity Exchange
D The Lagos Stock Exchange
The capital market provides business firms with the avenue to
A lease capital equipment
B obtain long-term funds
C obtain short-term funds
D purchase capital equipment
In an open economy, the GNP is measured as
A C+I+G+X
B C+I+G+(X-M)
C C+I+G+M
D C+I+G
The primary function of non-bank financial institutions is to
A manage investment portfolios for government
B mobilize savings for investment
C grant loans to banks
D receive deposits from banks
At the maximum point of the total product curve of a firm, marginal revenue is
A decreasing
B increasing
C constant
D zero
The role of the Central Bank in the economic development of Nigeria is to
A give short-and medium-term loans to the public
B give financial and technical advice to customers
C use cheques and bankdrafts to faciliate business transactions
D maintain a stable price system
By advertising, a monopolistic competitive firm tries to shift its
A supply curve to the right
B demand curve to the right
C supply curve to the left
D demand curve to the left
Given that Y = C + I and C = bY where b = 0.8, what is the multiplier?
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