ECO122




Category: ECO122

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ECO122

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

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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. The first generation bank in Nigeria were licensed before ___________

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D. _______________ 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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E. British colonial officials established the West African Currency Board in __________

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

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

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

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J. International prices affects ___________

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

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

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

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

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

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

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

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

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

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

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

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X. 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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Y. 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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Z. In ____ Nigeria's first bank, the African Banking Corporation, was established

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

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

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

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

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

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

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AH. Net exports equals ____________

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

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AJ. When exchange rate rises, import demand is __________

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AK. Net exports can be seen as __________

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AL. Central bank of Nigeria began Operations in ___________

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

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

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AO. 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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AP. British Colonial Officials established the __________ in 1912

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

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AR. When exchange rate fall, import demand becomes _________

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

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

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AU. The Personal Consumption is the largest part of _________

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

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

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

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

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