Economics Past Questions And Answers
231
The proportion of commercial banks' total assets kept in the form of highly liquid assets is known as
- A. demand deposit
- B. fixed deposit
- C. cash ratio
- D. moral suasion
232
The difference between the output proceedings of Nigerians abroad and foreigners in Nigeria is known as;
- A) Net export to abroad
- B) Net import from abroad
- C) Net income from abroad
- D) Net income to abroad
233
Concentrating industries in one place is advantageous because there are gains in terms of?
- A. external economies
- B. internal economies
- C. economies of scale
- D. cost economies
234
Which of the following is a legal tender?
- A. bank notes
- B. bank overdrafts
- C. bills of exchange
- D. money order
235
Government can influence aggregate demand through all the following measures except
- A. reduction in personal income tax
- B. retirement of director-general in the public service
- C. creation of employment opportunities
- D. compulsory deduction from salaries of all categories of workers
236
Natural growth rate is
- A. birth rate less death rate
- B. death rate less migration
- C. death rate plus birth rate
- D. birth rate plus migration
237
In Economics production is complete when
- A. goods are produced in the factories
- B. goods are sold to wholesalers
- C. prices are fixed for goods and services
- D. goods and services reach the consumer
238
The investment expenditure of an economy changes by N2 million and MPC is 0.75 The multiplier is
- A. 8
- B. 4
- C. 3
- D. 2
239
All the following are source of finance to a joint stock company except
- A. debentures
- B. cooperative loans
- C. shares
- D. bank loans
240
A characteristic of the average fixed cost is that, it?
- A. rises and falls faster than the marginal cost
- B. is U-shaped and intersects the price axis
- C. is always higher than the average variable cost
- D. falls continuously but is never equal to zero