Disguised unemployment

• A. is a statistical artifacts with no economic meaning
• B. can be eliminated if the capital output ratio is increased
• C. can be eliminated if the press is free
• D. exist when manpower is not being utilized efficiently

A market equilibrium exist when

• A. demand and supply are equal
• B. the market is large
• C. the price is fluctuating
• D. no buyer goes home empty-handed

one of the advantages of localization of industry is that firms

• A. make abnormal profits
• B. are given tax holidays
• C. are unified under one management
• D. can have a large pool of skilled labours

Which of the following statements is not true of cheques? They

• A. provide an alternative to carrying large sums of money around
• B. can be written out for any amount needed
• C. are legal tender
• D. provides a form of receipt

The problem of small markets in West Africa can be solved through

• A. separate planning among the West African countries
• B. meaningful- co-operation among the West African countries
• C. political stability in West Africa
• D. imposing of high tarrifs on West African exports

The type of business finance that entitles the holder to a fixed rate of dividend is?

• A. perferred stock
• B. common stock
• C. debenture
• D. bank loan

In national income accounting, the term ''net'' is used to indicate that a value-----

• A. includes income of foreigners
• B. includes income of citizens
• C. includes depreciation
• D. excludes depreciation

The diagram below represents the short-run position of a monopolist. The profit-maximizing output is

• A. Q3
• B. Q4
• C. Q1
• D. Q2

In the diagram below, the total revenue of the monopolist is given by the area

• A. OQ₁MP₂
• B. P₄MTP₁
• C. OQ₁TP₁
• D. OQ₂SP₂

One of the problems arising from the localization of industries is?

• A. high prices of output
• B. the exportation of output
• C. the scarcity of foreign exchange
• D. structural unemployment