A benefit that is present in all forms of economic integration is that

• A. factors of production are free to move and be moved
• B. common currency is in use
• C. common agricultural policy is in place
• D. the size of the market is widened

When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?

• A. elasticity of demand for the good
• B. proportion of the consumer's income spent on the good
• C. elasticities of demand and supply of the commodity
• D. availability of substitiutes for the commodity

By adding all the marginal products at each level of employment of the variable input, we obtain a value equal to

• A. average product
• B. total product
• C. average variable cost
• D. total cost

Which of the following are not agents of distribution

• A. Wholesalers
• B. Retailers
• C. Consumers
• D. Government agencies

Petroleum has the following positive contributions to the Nigerian economy except

• A. Generate employment
• B. Source of government revenue
• C. development of mono economy
• D. Infrastructure development

The most liquid asset among the following is

• A. bonds
• B. cheque
• C. cash
• D. shares

One of the economic problems of Nigeria today arises from?

• A. the over utilization of human and natural resources
• B. unavailability of mineral resources
• C. inadequate manpower resources
• D. the under-utilization of human and natural resources

which of the following is an important limiting factor in the application of division of labour?

• A. market size
• B. availability of an infrastructure
• C. wage rate
• D. Raw materials

The organization which provides credit to help countries achieve short-term balance in their balance of payment is the?

• A. Economic Community of West Africa States
• B. International Monetary Fund
• C. International Bank for Reconstruction and Development
• D. African Develoment Bank

The sum of items divided by the number of items is the

• A. frequency
• B. mean
• C. median
• D. mode