ECO122

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

B. 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 ________

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

D. Net exports can be seen as __________

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

F. 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 __________

G. Central bank of Nigeria began Operations in ___________

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

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

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

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

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

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

N. When exchange rate rises, import demand is __________

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

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

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

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

S. British Colonial Officials established the __________ in 1912

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

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

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

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

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

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

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

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

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

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

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

AE. 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.

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

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

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

AI. International prices affects ___________

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

AK. Net exports equals ____________

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

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

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

AO. When exchange rate fall, import demand becomes _________

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

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

AR. 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 __________

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

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

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

AV. The Personal Consumption is the largest part of _________

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

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

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