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Question 1 Rapport
Using Expenditure Approach to estimate National Income, Y is equal to
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Question 2 Rapport
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
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Question 4 Rapport
Price elasticity of supply measures the responsiveness of quantity supplied to
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Question 5 Rapport
The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can
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Question 6 Rapport
Data presented in tables are usually arranged in ………… and …………
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Question 7 Rapport
Oil was first discovered in commercial quantity in ……….. State.
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Question 9 Rapport
The additional satisfaction derived from the consumption of one more unit of a good is called
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Question 10 Rapport
The mean of the following scores
30, 32, 34, 36, 38, 40 and 42
What is the mean deviation?
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Question 11 Rapport
Which of these factors causes a change in the quantity demanded of a commodity?
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Question 13 Rapport
The process of building up country’s capacity to process raw materials for the production of goods is known as
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Question 14 Rapport
These are the objectives of industrial strategies in Nigeria EXCEPT
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Question 16 Rapport
Which of the following is NOT an advantage of tabular presentation of data?
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Question 18 Rapport
In a given set of data, if the variance is 25, what is the standard deviation?
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Question 22 Rapport
One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it
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Question 23 Rapport
The concentration of firms in one area is referred to as of ……………. industries.
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Question 24 Rapport
When the value of a country’s export exceeds her imports, there will be a
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Question 28 Rapport
The following are the differences between domestic and international trade EXCEPT
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Question 30 Rapport
The unit for measuring changes in prices and output is called ………………. index
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Question 33 Rapport
One of the roles of industrialization in economic development of Nigeria is
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Question 35 Rapport
Through membership of the Economic Community of West African States (ECOWAS) countries have achieved
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Question 37 Rapport
When the demand for foreign exchange exceeds its supply, the value of the domestic currency
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Question 40 Rapport
Which of the following hinder(s) effective distribution of goods in Nigeria?
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Question 42 Rapport
The amount of satisfaction per unit of the commodity consumed is called
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Question 43 Rapport
Which of the following is a determinant of elasticity of supply?
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Question 44 Rapport
The International Monetary Fund (IMF) was set up mainly to
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Question 45 Rapport
The correct relationship between income (Y), consumption (C) and savings (S) is
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