ECO122

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

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

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

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

E. 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.

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

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

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

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

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

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

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

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

N. When exchange rate rises, import demand is __________

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

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

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

S. Net exports equals ____________

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

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

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

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

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

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

Z. 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 ________

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

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

AC. 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 __________

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

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

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

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

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

AI. Net exports can be seen as __________

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

AK. British Colonial Officials established the __________ in 1912

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

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

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

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

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

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

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

AS. International prices affects ___________

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

AU. Central bank of Nigeria began Operations in ___________

AV. The Personal Consumption is the largest part of _________

AW. When exchange rate fall, import demand becomes _________

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

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