Question 1 of 20 38 total questions
The country that makes the largest contribution to the IMF is
A The USA
B Britain
C West Germany
D France
E Norway
The wholesale provides all the following services to the manufacturer except
A warehousing
B financing production
C marketing the product
D granting credit
E after-sales services
the headquarter of the Organization of Petroleum Exporting Countries (OPEC) is in
A Geneva, Switzerland
B Vienna, Austria
C Paris, France
D London , Britain
E New York, USA
Another name for the International Banks for Reconstruction and Development (IBRD) is
A International Monetary Funds
B International Development Bank
C World Bank
D International Bnak of Africa
E International Bank for West Africa
The amount of money to be created by commercial banks is actually influenced by the
A legal reserved ratio
B external reserve
C external borrowing
D availability of money and capital market
E bank deposits
The Nigerian economy can be best describe as a
A socialist economy
B capitalist economy
C mixed economy
D controlled economy
E domestic economy
Disguised unemployment
A is a statistical artifacts with no economic meaning
B can be eliminated if the capital output ratio is increased
C can be eliminated if the press is free
D calls for the implementation of five=year plans
E exist when manpower is not being utilized efficiently
Distribution involves the
A movement of raw materials to production centres
B transfer of goods and services from one market to another
C movement of goods and services by middlemen to urban centres
D transfer of goods and services from wholesalers to consumers
E transfer of goods and services from production centre to consumers
One major function of the Central Bank is to
A mint money
B hold demand deposit and honour cheques
C act as a medium of exchange
D create money
E control and regulate money supply
Which of the following is not done by the NNPC?
A production of crude oil
B Refining of crude oil
C Exploration for crude oil
D Exploitation of crude oil
E Pricing of crude oil
which of the following best describes the budget? A
A plan of government's needs and expenditure for a year
B detailed estimate of government financial operation for a year
C satisfactory balance between income and expenditure for one year
D plan for importation of essential goods and services for one year
E plan for control of government industries and corporations for one year
The concentration of industries in one place is referred to as
A location of industries
B multiplication of industries
C pluralization of industries
D proliferation of industries
E localization of industries
which of the following are determinants of the rate of population growth?
A Birth rate, immigration and death rate
B birth rate, death rate and emigration
C Death rate , birth rate and net migration
D Migration, large families and birth rate
E Death rate, migration and mortality rate
when a country has a large labour forvce , it is beneficial to use a method of production which is
A capital intensive
B land intensive
C labour intensive
D mechanically intensive
E technically intensive
When a business has an unlimited liability
A the owner are not responsible for all its financial debts
B all its profits can be taxed by the government
C the owners are responsible for all its financial debts
D all its assets belongs to the members of its board of directors
E it ceases to exist at the death of one of its owner
One of the greatest demerits of the middlemen in Nigeria is that they
A increase the price of goods and services at will
B Sell in small units only
C Store goods in warehouse that are not spacious enough
D Sell on credit to retailers only
E Do not advertise their goods
Which of the following are not agents of distribution
A Wholesalers
B Retailers
C Consumers
D Government agencies
E Cooperative societies
Which of the following statements is not true of cheques? They
A provide an alternative to carrying large sums of money around
B can be written out for any amount needed
C are legal tender
D provides a form of receipt
E provide a record of payment made
The notion of short-run and long-run periods is responding for grouping cost into
A fixed and variable
B implicit and explicit
C average and total
D capital and running
E money and opportunity
which of the following statements is not true of capital income?
A it helps in the assessment of standard of living
B it is calculated as National Income Population
C It is calculated as Population National Income
D It is used by the UNO to assess and assist developing countries
E It is used as one of the indicators of economic growth
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