ECO122

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

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

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

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

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

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

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

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

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

J. 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 __________

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

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

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

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

O. When exchange rate fall, import demand becomes _________

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

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

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

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

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

U. Net exports can be seen as __________

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

W. Central bank of Nigeria began Operations in ___________

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

Y. The Personal Consumption is the largest part of _________

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

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

AB. British Colonial Officials established the __________ in 1912

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

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

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

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

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

AH. Net exports equals ____________

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

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

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

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

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

AN. When exchange rate rises, import demand is __________

AO. International prices affects ___________

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

AQ. 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.

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

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

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

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

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

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

AX. 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 ________

AY. 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 __________