ECO122

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

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

C. Net exports equals ____________

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

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

F. 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.

G. When exchange rate fall, import demand becomes _________

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

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

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

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

L. International prices affects ___________

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

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

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

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

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

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

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

T. In ____ Nigeria's first bank, the African Banking Corporation, was established

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

V. 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 __________

W. British Colonial Officials established the __________ in 1912

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

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

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

AA. 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 __________

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

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

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

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

AF. The Personal Consumption is the largest part of _________

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

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

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

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

AK. 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 ________

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

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

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

AO. Net exports can be seen as __________

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

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

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

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

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

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

AV. Central bank of Nigeria began Operations in ___________

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

AX. When exchange rate rises, import demand is __________

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