The use of legally permissible means to reduce tax liabilities is known as tax?

• A. evasion
• B. avoidance
• C. relief
• D. exemption

In the money market , money can only be borrowed for

• A. long term
• B. short term
• C. capital project
• D. public utilities

Use the production possibility curve of a country represented in the diagram below to this questions. An improvement in technology will enable the country to produce at

• A. V
• B. W
• C. X
• D. Z

Which of the following is a problem of trade by barter?

• A. exchange rate determination
• B. hoarding
• C. how to produce
• D. what to produce

Economics is a social science which studies how

• A. to redistrubute income
• B. human beings behave
• C. the market price is fixed
• D. scarce resources are allocated to satisfy human wants

Which of the following programmes in the monetary sector is aimed at enhancing the banking habit of the rural areas?

• A. The deregulation of the banking system
• B. The increase in the number of merchant banks
• C. The community banking scheme
• D. The deregulation of interest rate

If the price of floor rises, then bread

• A. demand curve will shift to the left while supply curve will shift to the right
• B. supply curve will shift to the left
• C. supply curve will shift to the right
• D. demand curve will shift to the right while supply curve remains unchanged

In the diagram below, DoDo is the original demand curve, SoSo is the original supply curve, D1D1 is the new demand curve. What is the new equilibrium quantity?

• A. Q1
• B. Q2
• C. Q3
• D. Q4

Efficiency in production means?

• A. reducing the size of the work force
• B. producing a given output with the lowest cost of combination of factors of production
• C. adoption of capital intensive technology
• D. increasing the quantity of the fixed factors of production

As a producer' association, the OPEC expects its members to maintain production where marginal cost is?

• A. greater than price
• B. less than price
• C. equal to price
• D. equal to average cost