economics

Terms of trade simply mean the price?

A. ratio of import to export B. ratio of export multiplied by import C. ratio of export to import D.…

5 years ago

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…

5 years ago

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…

5 years ago

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…

5 years ago

The real value of money is?

A. its face value B. what it can buy at a particular time C. its rate of exchange with other…

5 years ago

A budget is define as a?

A. Summary of expected expenditure by individuals and government B. Summary of expected income C. record of the value of…

5 years ago

The greatest foreign exchange earner for Nigeria before the advent of petroleum was?

A. mining B. handicraft C. agriculture D. manufacturing E. tourism Correct Answer: Option C - agriculture

5 years ago

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…

5 years ago

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…

5 years ago

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 Correct Answer: Option A - Demand…

5 years ago