ECO122

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

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

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

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

E. British Colonial Officials established the __________ in 1912

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 ________

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

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

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

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

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

Z. 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.

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

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

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

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

AE. International prices affects ___________

AF. 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 __________

AG. Net exports can be seen as __________

AH. Central bank of Nigeria began Operations in ___________

AI. When exchange rate fall, import demand becomes _________

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

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

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

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

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

AO. When exchange rate rises, import demand is __________

AP. Net exports equals ____________

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

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

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

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

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

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

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

AX. 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 __________

AY. The Personal Consumption is the largest part of _________