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Question 1 Rapport
If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is
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Question 2 Rapport
The Industrial strategy of producing locally those goods that could have been imported is known as
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Question 3 Rapport
Which of the following is an advantage of free enterprise economy?
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Question 4 Rapport
Which of the following is a disadvantage of sole proprietorship?
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Question 5 Rapport
Unemployment resulting from physical or mental deficiency is known as……………unemployment.
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Question 7 Rapport
Goods that are useful, scarce and can command price are called …………. goods.
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Question 8 Rapport
The creation of physical and concrete goods that can be seen and handled Is
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Question 10 Rapport
which of the following measures can be used to control inflation?
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Question 12 Rapport
Agricultural production in Nigeria could be improved through
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Question 13 Rapport
The difference between bar charts and histograms is that the former
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Question 14 Rapport
Which of the following is NOT an advantage of localization of industry?
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Question 15 Rapport
A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.
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Question 16 Rapport
Which of these is NOT a bottle neck In the distribution of goods In Nigeria?
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Question 17 Rapport
Standard deviation can be determined by the square root of the
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Question 20 Rapport
The following methods are used in calculation of National Income EXCEPT
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Question 22 Rapport
Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14
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Question 25 Rapport
A change in National Income brought about by a given change in investment Is
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Question 28 Rapport
A deliberate government policy to exclude foreign participation in certain economic activity is known as
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Question 29 Rapport
Which of the following goods are NOT examples of joint supply?
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Question 31 Rapport
A tax system in which the rich pay a higher percentage of income as tax than the poor is known as
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Question 32 Rapport
If the price Index of export is 140% and import is 200%, what is
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Question 33 Rapport
The following are the objectives of economic planning EXCEPT
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Question 35 Rapport
A comprehensive statement of Income and expenditure on international accounts for one financial year is called
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Question 37 Rapport
The following are advantages of standard deviation EXCEPT that it
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Question 38 Rapport
Which of the following is NOT a contribution of agriculture to industrial development?
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Question 39 Rapport
The African Development Bank was set up in 1964 and has its headquarters in
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Question 41 Rapport
The solution to problem of how to produce in a capitalist economy is solved by
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Question 42 Rapport
The difference between Gross National Income and Gross Domestic Product is known as
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Question 45 Rapport
If total Income is N15m and total consumption Is N3m. then the average propensity to consume is
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