which of the following statements is not true of capital income?

• A. it helps in the assessment of standard of living
• B. it is calculated as National Income Population
• C. It is calculated as Population National Income
• D. It is used by the UNO to assess and assist developing countries

The minimum number of shareholders for a joint stock company is

• A. 2
• B. 3
• C. 4
• D. 7

Economic as a field of study is a

• A. pure science
• B. polititcal science
• C. social science
• D. physical science

All the following are problems identified with agriculture in West Africa except

• A. land tenure system
• B. ignorance of the farmers
• C. use of crude implement
• D. provision of food for the teeming population

The law of variable proportions is applicable only

• A. in the long-run period
• B. to large-scale enterprises
• C. to small-scale enterprises
• D. in the short-run period

which of the following is the most important reason why wages differ among occupations?

• A. Length and cost of training
• B. Supply of labour
• C. Attractiveness of the job
• D. influence of trade unions

Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?

• A. The infrastructural facilities in cities
• B. Declining fertility of rural farmlands
• C. Rural electrification programme
• D. Higher living standards in urban areas

A public liability company is different from a private limited company because?

• A. is registered with the registrar of companies
• B. is a legal entity
• C. can raise capital of size by way of loans
• D. can sell shares in the stock exchange

When price is set below equilibrium, this will lead to

• A. an increase in the quantity supplied
• B. a new equilibrium
• C. a decrease in the quantity supplied
• D. a fall in price

Public debt is composed of?

• A. internal debts and World Bank loans
• B. money owed to local and foreign contractors
• C. internal and external debts
• D. loans granted by IMF and ADB