If the economy of the country is operating at X, the implication is that

• A. the productive capacity is being fully utilized
• B. the productive capacity is not being fully utilized
• C. too little of consumer goods is being produced
• D. there is a disequilibrium between the production of capital and consumer goods

The monetary system that requires a double coincidence of wants is known as the

• A. gold standard
• B. barter system
• C. commodity system
• D. gold exchange standard

One of the most outstanding disadvantages of co-operative societies as business organization is that?

• A. true spirit of co-operation is marred by delegated authority
• B. members show much interest
• C. it is poorly financed
• D. membership interest is centred on sharing of essential commodities

If a particular consumer derives total utility of 22 utils having consumed 4 units of a given product, his average utility will be

• A. 88 utils
• B. 18 utils
• C. 5.5 utils
• D. 3.5 utils

in equilibrium, injections are equal to?

• A. withdrawals
• B. surplus of imports over exports
• C. government spending
• D. wages

If the actual population in a country is less than the optimum population, then?

• A. it is desirable to have a large population
• B. it is necessary to have an improved technology to sustain the population
• C. it is desirable to have a smaller population
• D. the available resources are inadequate to substain the population

In what ways can the government improve agricultural production in Nigeria?

A market structure where profit is maximized when marginal revenue, marginal cost and price are equal is known as

• A. perfect competition
• B. monopoly
• C. oligopoly
• D. imperfect competition

In a partnership, the conduct of members is guided by

• A. a memorandum of understanding
• B. the article of partnership
• C. an article of association
• D. a partnership constitution

The value of money is affected by the

• A. speculative motive
• B. price level
• C. transactionary motive
• D. precautionary motive