economics

An inflation in which the price rises steadily at an average rate of about 2% per annum is best described as?

A. Galloping B. Induced C. Creeping D. Suppressed E. Run-away Correct Answer: Option C - Creeping

5 years ago

The greatest disadvantages of barter system is the need for?

A. Durability B. Divisibility C. Homogeneity D. Double coincidence of wants E. Portability Correct Answer: Option D - Double coincidence…

5 years ago

A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a?

A. Time series B. Demand series C. Demand curve D. Demand schedule E. Time schedule Correct Answer: Option D -…

5 years ago

Scarcity in Economics means that resources?

A. Are not enough to share among producers of goods and services B. Needed to satisfy human wants are limited…

5 years ago

The country that makes the largest contribution to the IMF is?

A. The USA B. Britain C. West Germany D. France E. Norway Correct Answer: Option A - The USA

5 years ago

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 Correct Answer: Option E -…

5 years ago

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 Correct Answer: Option B…

5 years ago

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 Bank of Africa E. International Bank for…

5 years ago

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…

5 years ago

The Nigerian economy can be best describe as a?

A. socialist economy B. capitalist economy C. mixed economy D. controlled economy E. domestic economy Correct Answer: Option C -…

5 years ago