Question 1 of 20 39 total questions
International trade takes place because of difference in
A production cost
B language
C government policy
D currency
E international boundary
Where is the headquarter of the African Development Bank (ADB) located?
A Lome
B Adis Ababa
C Accra
D Lagos
E Abdijan
Where was oil first discovered in commercial quantities in Nigeria?
A Oloibiri
B Warri
C Elesa Eleme
D Onitsha
E Port Harcourt
Which of the following is not an objective of the Indigenisaton policy in Nigeria? To
A Make Nigerians dominate their economy
B increase Nigerians participation in the economy
C prevent foreign monopoly of the economy
D eliminate foreign participation in the Nigerian economy
E protect the national interst and security
Which of the following is the source of raising funds for a public limited liability company in West Africa?
A Bank loans
B issue of shares
C issue of debentures
D ploughing back profits
E Sales of bonds
Which of the following is not a feature of a perfect market?
A large number of buyersand sellers
B Homogeneity of products
C Preferential treatment
D Absence of transport cost
E Perfect knowledge of market situation
Balance of trade can be define as
A the value of import in relation to the value of a country's exports
B the price ratio of imports as against that of exports
C equality in the total receipts and payments of a country in a year
D percentage value of imports over percentage value of exports
E price of exports versus price of imports
Terms of trade simply means the price
A ratio of import to export
B ratio of export multiplied by import
C ratio of export to import
D ratio of export multiplied by price ratio of import
E of export minus price of import
Net National Product (NNP) is equal to the
A Gross Domestic Product (GDP) less depreciation
B Gross National Products (GNP) less depreciation
C Gross Domestic Products (GDP) plus depreciation
D Gross National Products (GNP) plus depreciation
E Gross National Income plus Taxation
Which of the following best describes the multiplier?
A products of income and expenditure
B Curves of savings and expenditure
C Ratio of change in income to the expenditure that brought it about
D Constant level of income
E Equality of marginal propensity to consume and save
A tax whose rate increases as income increases is
A an indirect tax
B a progressive tax
C a regressive tax
D a direct tax
E a proportional tax
The real value of money is
A its face value
B what it can buy ata a particular time
C its rate of exchange with other currencies
D its intrinsic worth
E its rate of circulation
A budget is define as a
A Summary of expected expenditure by individuals and government
B summary of expected income
C record of value of services rendered in a year
D record of goods produced in a year
E summary of expected income and expenditure
The greatest foreign exchange earner for Nigeria before the advent of petroleum was
A mining
B handicraft
C agriculture
D manufacturing
E tourism
If a monopolist is attempting to maximize profit , which of the following should he attempt to do?
A Equate average cost to average revenue
B Equate marginal cost to marginal revenue
C Equate marginal cost to average revenue
D fix price and output
E Equate price to total cost
A point along a consumer's indifference curve shows
A the difference commodities he can consume
B a combination of all commodities he is willing to buy
C a combination of two commodities from which he derive the same satisfaction
D the quantity of commodities demanded by him
E the difference between quantity supplied and quantity demanded
Which of the following constitute the major components of money supply in a development economy?
A Demand deposits
B Paper money
C Bank drafts
D Coins
E Time deposits
Which of the following does not give a characteristics of money?
A Durable
B Portable
C Divisible into small units
D Generally acceptable
E Medium of exchange
At optimum population level, a country has its
A maximum population
B ageing population
C highest birth rate
D highest output per heade
E lowest death rate
Malthus observed in his theory that population was growing
A at a regular rate
B in arithmetical progression
C in geometrical progression
D in mathematical progression
E in trigonometrical progression
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