ECO122

A. The Personal Consumption is the largest part of _________

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

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

D. 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 __________

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

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

G. 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 ________

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

I. When exchange rate rises, import demand is __________

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

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

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

M. Net exports equals ____________

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

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

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

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

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

S. British Colonial Officials established the __________ in 1912

T. When exchange rate fall, import demand becomes _________

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

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

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

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

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

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

AA. Central bank of Nigeria began Operations in ___________

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

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

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

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

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

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

AH. 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.

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

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

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

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

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

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. Net exports can be seen as __________

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

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

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

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

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

AU. International prices affects ___________

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

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

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

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