ECO122
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A. _______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
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B. Per capital income is defined as the ratio of a country’s income to its __________
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C. British Colonial Officials established the __________ in 1912
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D. The two types of taxes are _____ and _____ tax
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E. A rise in exchange rate when domestic currency rises relative to foreign currency is called __________
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F. The gross domestic product is the summation of all the values of goods and services produced in a country by the ___________ and non-nationals
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G. Developing countries stand to gain from international trade because __________
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H. ______ tax is a situation where tax rate reduces as the size of income increases
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I. ______ is a situation when you hold money for investment purposes
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J. Finance and insurance services represented more than ______ of Nigeria's GDP in 1988
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K. Macroeconomics as the field of economics that studies the behavior of the ___________
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L. Gross Private domestic investment equals consumer spending plus investment plus government spending plus _________
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M. ______ an institution which accepts deposits, makes business loans, and offers related services
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N. If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax
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O. The graph that shows the relationship between consumption and income is __________
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P. _____ tax is levied proportional to the tax base or income of the individual
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Q. 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 __________
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R. In ____ Nigeria's first bank, the African Banking Corporation, was established
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S. Economic growth is defined as the process whereby the ________ of a country increases over a long period of time
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T. 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 ________
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U. National income accounting provides economists and statisticians with detailed information that can be used to track the health of an ___________
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V. Gross Private domestic investment measures is used to calculate ___________
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W. When exchange rate rises, import demand is __________
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X. The first generation bank were banks that were licensed before _______
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Y. International prices affects ___________
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Z. The second generation banks were bank licensed between ________ years
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AA. Economists take the study of money seriously because evidence suggests that ___________
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AB. Nigeria first bank the African banking corporation was established in ___________
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AC. If exports is greater than imports it is called __________
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AD. 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 __________
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AE. According to Keynes, full employment means the absence of ___________
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AF. The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called _______
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AG. In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _________
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AH. The first generation bank in Nigeria were licensed before ___________
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AI. The factor that affect trade flows is the changes in ________
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AJ. If import is greater than exports it is called _________
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AK. The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ___________
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AL. Net exports can be seen as __________
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AM. Positive net export that is current account surplus can be used to recover the economy from __________
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AN. 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.
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AO. Nigeria's first bank, the African Banking Corporation, was established in _____
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AP. A fall in exchange when domestic currency falls relative to foreign currency is called ___________
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AQ. Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual _____________
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AR. Net exports equals ____________
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AS. A rise in domestic inflation can plunge the economy into ____________
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AT. Gross Private Domestic investment is a relatively specific measure of __________
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AU. Consumption, Savings and Investment is the theory of __________
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AV. Central bank of Nigeria began Operations in ___________
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AW. When exchange rate fall, import demand becomes _________
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AX. British colonial officials established the West African Currency Board in __________
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AY. The Personal Consumption is the largest part of _________
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