ECO122

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

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

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

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

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

F. When exchange rate rises, import demand is __________

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

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

I. When exchange rate fall, import demand becomes _________

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

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

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

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

N. 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 ________

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

P. 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.

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

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

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

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

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

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

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

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

Y. 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 __________

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

AA. British Colonial Officials established the __________ in 1912

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

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

AD. 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 __________

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

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

AG. Net exports equals ____________

AH. The Personal Consumption is the largest part of _________

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

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

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

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

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

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

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

AP. Net exports can be seen as __________

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

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

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

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

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

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

AW. International prices affects ___________

AX. Central bank of Nigeria began Operations in ___________

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