All of the following is the features of optimum population except

• A. full employment of available resources
• B. unlimited amount of unexploited resources
• C. maximum per capita production and income
• D. high standard of living

A school girl who needs a book and mirror, each coasting five naira, decides to purchase the book instead of the mirror since she cannot pay for the two at the same time. Determined the real cost of her book.

• A. The five naira she spent on the book
• B. Five naira real cash value
• C. the mirror
• D. The book

A movement along the same demand curve is caused by the

• A. price of the product
• B. price of other products
• C. income of the consumer
• D. taste of the consumer

Budget deficit is the amount by which?

• A. total expenditure exceeds revenue
• B. recurrent expenditure exceeds revenue
• C. capital expenditure exceeds revenue
• D. recurrent expenditure exceeds capital expenditure

Equilibrium price is the price at which quantity

• A. demand greater than quantity supplied
• B. supplied is greater than quantity demanded
• C. demand is equal to quantity supplied
• D. supplied equals quantity produced

One of the most important factors that should be considered in the location of an industry is?

• A. nearness to the financial centre
• B. assured patronage by government functionaries
• C. availabilities of inputs and market
• D. availabilities of adequate security

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

• A. total utility must fall
• B. marginal utility must fall
• C. marginal utility may rise
• D. marginal utility may fall even though his total utility may be rising

GNP is not a good measure of social welfare because there are unrecorded?

• A. indirect taxes
• B. social costs
• C. government subsidies
• D. transfer payments

Which of the following is NOT among the financial institutions in Nigeria?

• A. Federal Mortgage Bank
• B. Microfinance Banks
• C. Insurance Banks
• D. Federal Ministry of Finance

An economy system is mainly concerned with

• A. studying the relationship between ends and means
• B. the allocation of scarce resources between alternative ends
• C. handling situations of abundant resources
• D. the establishment of economic laws