ECO122

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

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

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

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

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

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

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

H. 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.

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

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

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

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

M. Net exports can be seen as __________

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

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

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

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

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

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

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

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

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

W. British Colonial Officials established the __________ in 1912

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

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

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

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

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

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

AD. 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 ________

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

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

AG. Net exports equals ____________

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

AI. Central bank of Nigeria began Operations in ___________

AJ. When exchange rate rises, import demand is __________

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

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

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

AN. 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 __________

AO. 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 __________

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

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

AR. When exchange rate fall, import demand becomes _________

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

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

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

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

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

AX. International prices affects ___________

AY. The Personal Consumption is the largest part of _________