ECO122
1 / 51
A. Gross Private domestic investment equals consumer spending plus investment plus government spending plus _________
2 / 51
B. 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 __________
3 / 51
C. The graph that shows the relationship between consumption and income is __________
4 / 51
D. A rise in domestic inflation can plunge the economy into ____________
5 / 51
E. The gross domestic product is the summation of all the values of goods and services produced in a country by the ___________ and non-nationals
6 / 51
F. According to Keynes, full employment means the absence of ___________
7 / 51
G. International prices affects ___________
8 / 51
H. The two types of taxes are _____ and _____ tax
9 / 51
I. Economists take the study of money seriously because evidence suggests that ___________
10 / 51
J. Finance and insurance services represented more than ______ of Nigeria's GDP in 1988
11 / 51
K. Per capital income is defined as the ratio of a country’s income to its __________
12 / 51
L. Economic growth is defined as the process whereby the ________ of a country increases over a long period of time
13 / 51
M. Macroeconomics as the field of economics that studies the behavior of the ___________
14 / 51
N. If import is greater than exports it is called _________
15 / 51
O. The Personal Consumption is the largest part of _________
16 / 51
P. Gross Private domestic investment measures is used to calculate ___________
17 / 51
Q. The second generation banks were bank licensed between ________ years
18 / 51
R. ______ tax is a situation where tax rate reduces as the size of income increases
19 / 51
S. Positive net export that is current account surplus can be used to recover the economy from __________
20 / 51
T. Net exports equals ____________
21 / 51
U. A rise in exchange rate when domestic currency rises relative to foreign currency is called __________
22 / 51
V. _____ tax is levied proportional to the tax base or income of the individual
23 / 51
W. When exchange rate rises, import demand is __________
24 / 51
X. The factor that affect trade flows is the changes in ________
25 / 51
Y. If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax
26 / 51
Z. The first generation bank were banks that were licensed before _______
27 / 51
AA. Nigeria first bank the African banking corporation was established in ___________
28 / 51
AB. A fall in exchange when domestic currency falls relative to foreign currency is called ___________
29 / 51
AC. Net exports can be seen as __________
30 / 51
AD. ______ an institution which accepts deposits, makes business loans, and offers related services
31 / 51
AE. Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual _____________
32 / 51
AF. 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.
33 / 51
AG. Central bank of Nigeria began Operations in ___________
34 / 51
AH. Developing countries stand to gain from international trade because __________
35 / 51
AI. National income accounting provides economists and statisticians with detailed information that can be used to track the health of an ___________
36 / 51
AJ. _______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
37 / 51
AK. The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called _______
38 / 51
AL. In ____ Nigeria's first bank, the African Banking Corporation, was established
39 / 51
AM. If exports is greater than imports it is called __________
40 / 51
AN. In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _________
41 / 51
AO. 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 __________
42 / 51
AP. Consumption, Savings and Investment is the theory of __________
43 / 51
AQ. The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ___________
44 / 51
AR. When exchange rate fall, import demand becomes _________
45 / 51
AS. British colonial officials established the West African Currency Board in __________
46 / 51
AT. Nigeria's first bank, the African Banking Corporation, was established in _____
47 / 51
AU. British Colonial Officials established the __________ in 1912
48 / 51
AV. 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 ________
49 / 51
AW. ______ is a situation when you hold money for investment purposes
50 / 51
AX. Gross Private Domestic investment is a relatively specific measure of __________
51 / 51
AY. The first generation bank in Nigeria were licensed before ___________
Restart quiz
Rate this quiz