which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive
Answer
(C)
I, II and III only
3
it is general belief that inflation in West Africa is caused by all the factors listed below except
Answer
(E)
decrease in money supply
4
all the following are specific examples of indirect tax except
Answer
(E)
poll tax
5
Demand in Economics is synonymous with
Answer
(D)
wants supported with ability to pay
6
All the following factors will cause a change in demand except
Answer
(E)
the price of commodity
7
A rational consumer tends to do all the following except
Answer
(A)
buying more at a high price than at a low price
8
A firm that charges different price of goods or services that have same technical qualities is called
Answer
(D)
a discriminating monopoly
9
A perfect market has all the following features except that
Answer
(A)
there are many buyers and few sellers
10
The purchasing power of the Naira will fall when
Answer
(D)
there is inflation
11
Time deposit has the same meaning as
Answer
(C)
deposit account
12
Which of the following best explain an inflationary situation at current price level?
Answer
(A)
Demand, supply
13
The theory of consumer behavior is based on all the following assumption except that the
Answer
(A)
Consumer is assumed irrational
14
The Joint Stock Company can be a company whose minimum membership is
Answer
(A)
2
15
Limited liability in Economics means that
Answer
(A)
a shareholder's liability in the event of debt or bankruptcy is limited to the amount he has invested
16
Regressive tax is not a good tax system because it
Answer
(D)
Does not ensure equity in payment
17
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
Answer
(C)
OPEC
18
Which of the following is not a member of OPEC?
Answer
(E)
Egypt
19
which of the following statements is not true of capital income?
Answer
(B)
it is calculated as National Income Population
20
The notion of short-run and long-run periods is responding for grouping cost into
Answer
(A)
fixed and variable
21
Which of the following statements is not true of cheques? They
Answer
(C)
are legal tender
22
Which of the following are not agents of distribution
Answer
(C)
Consumers
23
One of the greatest demerits of the middlemen in Nigeria is that they
Answer
(A)
increase the price of goods and services at will
24
When a business has an unlimited liability
Answer
(C)
the owners are responsible for all its financial debts
25
when a country has a large labour forvce , it is beneficial to use a method of production which is
Answer
(C)
labour intensive
26
which of the following are determinants of the rate of population growth?
Answer
(C)
Death rate , birth rate and net migration
27
The concentration of industries in one place is referred to as
Answer
(E)
localization of industries
28
which of the following best describes the budget? A
Answer
(B)
detailed estimate of government financial operation for a year
29
Which of the following is not done by the NNPC?
Answer
(E)
Pricing of crude oil
30
One major function of the Central Bank is to
Answer
(E)
control and regulate money supply
31
Distribution involves the
Answer
(E)
transfer of goods and services from production centre to consumers
32
Disguised unemployment
Answer
(E)
exist when manpower is not being utilized efficiently
33
The Nigerian economy can be best describe as a
Answer
(C)
mixed economy
34
The amount of money to be created by commercial banks is actually influenced by the
Answer
(A)
legal reserved ratio
35
Another name for the International Banks for Reconstruction and Development (IBRD) is
