ECO122

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

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

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

D. Net exports can be seen as __________

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

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

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

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

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

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

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

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

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

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

O. 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 ________

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

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

R. 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.

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

T. In ____ Nigeria's first bank, the African Banking Corporation, was established

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

V. Net exports equals ____________

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

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

Y. When exchange rate rises, import demand is __________

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

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

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

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

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

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

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

AG. 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 __________

AH. 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 __________

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

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

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

AL. International prices affects ___________

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

AN. The Personal Consumption is the largest part of _________

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

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

AQ. Central bank of Nigeria began Operations in ___________

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

AS. When exchange rate fall, import demand becomes _________

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

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

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

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

AX. British Colonial Officials established the __________ in 1912

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