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Question 3 Report
If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is
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Question 6 Report
The solution to problem of how to produce in a capitalist economy is solved by
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Question 7 Report
Goods that are useful, scarce and can command price are called …………. goods.
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Question 8 Report
A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.
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Question 9 Report
Which of the following is NOT a contribution of agriculture to industrial development?
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Question 10 Report
The difference between Gross National Income and Gross Domestic Product is known as
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Question 11 Report
Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14
Question 12 Report
A change in National Income brought about by a given change in investment Is
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Question 13 Report
Which of the following is NOT a feature of land?
Question 14 Report
Standard deviation can be determined by the square root of the
Question 15 Report
The creation of physical and concrete goods that can be seen and handled Is
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Question 16 Report
Unemployment resulting from physical or mental deficiency is known as……………unemployment.
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Question 20 Report
Which of the following is NOT an advantage of localization of industry?
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Question 24 Report
The following methods are used in calculation of National Income EXCEPT
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Question 25 Report
The African Development Bank was set up in 1964 and has its headquarters in
Question 27 Report
The difference between bar charts and histograms is that the former
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Question 29 Report
A tax system in which the rich pay a higher percentage of income as tax than the poor is known as
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Question 31 Report
If total Income is N15m and total consumption Is N3m. then the average propensity to consume is
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Question 32 Report
A comprehensive statement of Income and expenditure on international accounts for one financial year is called
Question 36 Report
The Industrial strategy of producing locally those goods that could have been imported is known as
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Question 38 Report
Which of these is NOT a bottle neck In the distribution of goods In Nigeria?
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Question 39 Report
A deliberate government policy to exclude foreign participation in certain economic activity is known as
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Question 40 Report
The first oil refinery in Nigeria was established at
Question 42 Report
Which of the following is an advantage of free enterprise economy?
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Question 46 Report
The following are bye-products of crude oil EXCEPT
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