Question 1 of 20 145 total questions
Environmental degradation is more associated with
A localization of industries
B location of industries
C decreased urbanization
D urban-rural migration
Foreign investment can be attracted to Nigeria through
A a review of the tax policy
B a review of interest rates
C the revaluation of the naira
D a review of the naturalization policy
A country would develop its agricultural sector first so as to
A stabilize the prices of agricultural products
B stabilize the prices of industrial products
C create a market for the agricultural sector
D create a market for the industrial sector
A major objective of the Federal Government's initiative on cassava production in Nigeria is to
A diversify the export base of the economy
B ensure the availability of cassava
C make cassava a staple food in the country
D provide raw materials for industries
The survival of a partnership depends on
A the managerial ability of the partners
B access to finance
C the goodwill of the partners
D political stability
The minimum number of shareholders for a joint stock company is
The main objective of WTO is to
A help countries with chronic balance of payments problems
B help debtor nations solve their problems
C ensure adequate tariff protection for infant industries
D provide a mechanism for tariff reductions
One of the ways of correcting a deficit balance of payments is to
A revalue a country's currency
B devalue a country's currency
C increase imports
D reduce exports
The gains from international trade are shared on the basis of the
A quantity produced of each of the traded goods
B cost of production of each of the traded goods
C terms of trade
D bilateral trade agreements
In a developing economy, productivity is measured by the
A capital-output ratio
B output growth rate
C output-labour ratio
D output per capita
A continuous increase in national income accompanied by the structural transformation of all indices is called
A economic planning
B economic growth
C economic reforms
D economic development
The monetization policy is an offshoot of
A persistent rise in the prices of inputs will lead to
A hyperinflation
B stagflation
C cost-push inflation
D demand-pull inflation
If the total fixed cost is the same regardless of output, the average fixed cost will be
A increasing
B maximum
C minimum
D decreasing
A characteristic of the linear production function is that
A the percentage change in inputs change exceeds output
B output and all inputs change by the same percentage
C the percentage change in output is greater than one
D the percentage change in output is less than one
The division of labour requires that the task to be performed
A must be done in stages
B requires no special knowledge
C is simple but strenuous
D must be undertaken by experts
The world market for crude oil refers to the
A total supply by OPEC members
B total demand for and supply of crude oil
C excess crude oil produced in the world
D difference between the supply of and demand for oil
The coefficient of the price elasticity of supply is always
A positive
B negative
C constant
D zero
A commodity is described as inferior when the
A income effect is negative
B income effect is positive
C substitution effect is negative
D substitution effect is positive
The major determinant of cross elasticity of demand is the
A price of the good
B degree of necessity of the good
C level of income of consumers
D closeness of the substitutes
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