ECO122

A. A rise in exchange rate when domestic currency rises relative to foreign currency is called __________

B. British Colonial Officials established the __________ in 1912

C. The graph that shows the relationship between consumption and income is __________

D. According to Keynes, full employment means the absence of ___________

E. Nigeria's first bank, the African Banking Corporation, was established in _____

F. The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called _______

G. If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax

H. If exports is greater than imports it is called __________

I. Mr Afees Oyebo purchase a machine tool at N3,000,000 and an ad valorem tax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machine tools.

J. Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual _____________

K. The gross domestic product is the summation of all the values of goods and services produced in a country by the ___________ and non-nationals

L. The two types of taxes are _____ and _____ tax

M. ______ is a situation when you hold money for investment purposes

N. The factor that affect trade flows is the changes in ________

O. Gross Private domestic investment equals consumer spending plus investment plus government spending plus _________

P. Given that the amount of  naira needed when we want to buy $100 worth of United State of America product given that exchange rate is N500.00, the amount of naira needed is __________

Q. In ____ Nigeria's first bank, the African Banking Corporation, was established

R. _______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort

S. If import is greater than exports it is called _________

T. Nigeria first bank the African banking corporation was established in ___________

U. Mr Olusanya Samuel an American consumer intends to buy Nigeria product worth of N1000.00, given that exchange rate is 50, so the amount of dollars he need for the transaction is ________

V. Given that the amount of naira needed when we want to buy $100 worth of  US and the exchange rate falls to $50 and product given that exchange rate is N500.00, the amount of  naira needed is __________

W. The Personal Consumption is the largest part of _________

X. Net exports equals ____________

Y. When exchange rate fall, import demand becomes _________

Z. Positive net export that is current account surplus can be used to recover the economy from __________

AA. ______ tax is a situation where tax rate reduces as the size of income increases

AB. The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ___________

AC. National income accounting provides economists and statisticians with detailed information that can be used to track the health of an ___________

AD. In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _________

AE. Gross Private Domestic investment is a relatively specific measure of __________

AF. The first generation bank in Nigeria were licensed before ___________

AG. Macroeconomics as the field of economics that studies the behavior of the ___________

AH. Economists take the study of money seriously because evidence suggests that ___________

AI. Consumption, Savings and Investment is the theory of __________

AJ. The first generation bank were banks that were licensed before _______

AK. Per capital income is defined as the ratio of a country’s income to its __________

AL. Net exports can be seen as __________

AM. ______ an institution which accepts deposits, makes business loans, and offers related services

AN. British colonial officials established the West African Currency Board in __________

AO. Finance and insurance services represented more than ______ of Nigeria's GDP in 1988

AP. Developing countries stand to gain from international trade because __________

AQ. International prices affects ___________

AR. A rise in domestic inflation can plunge the economy into ____________

AS. When exchange rate rises, import demand is __________

AT. A fall in exchange when domestic currency falls relative to foreign currency is called ___________

AU. Economic growth is defined as the process whereby the ________ of a country increases over a long period of time

AV. _____ tax is levied proportional to the tax base or income of the individual

AW. The second generation banks were bank licensed between ________ years

AX. Central bank of Nigeria began Operations in ___________

AY. Gross Private domestic investment measures is used to calculate ___________