Economics Past Questions And Answers
621
Commercial banks settle their inter-bank indebtedness through
- A. merchant banks
- B. central banks
- C. development banks
- D. stock exchange
622
Goods which have to be paid for are known as
- A. physical goods
- B. economic goods
- C. free goods
- D. intangible goods
623
open market operation are the process by which
- A. the Central Banks purchases and sells securities
- B. Commercial Banks purchases and sells securities
- C. business firms buys raw materials freely
- D. huseholds buys consumer goods openly
624
The wholesaler performs the following function except
- A. breaking the bulk
- B. offering credit facilities to the consumers
- C. financing manufacturers
- D. buying in bulk from manufacturers
625
The price of a good will not be affected by the imposition of a sales tax on it if the?
- A. supply is inelastic
- B. demand is inelastic
- C. supply is perfectly elastic
- D. demand is perfectly elastic
626
The World Trade Organization is responsible for
- A. stabilizing and harmonization oil prices
- B. ensuring equal participation of countries in trade
- C. modernising world economies
- D. minimizing obstacles to international trade and investment
627
Microeconomics is concerned with
- A) the aggregate or total levels of income, employment and output
- B) a detailed examination of specific economic units that make up the economic system
- C) positive economics, but not normative economics
- D) the establishing of an overall view of the operation of the economic system
628
By utility we mean____________
- A. beneficial
- B. power of satisfying a want
- C. advantageous
- D. consumable
629
Rapid economic development in Nigeria is realizable by
- A. continuous dependence on oil
- B. concentrating more on agriculture
- C. developing the tourism industry
- D. diversifying the economy
630
which of the following is not an advantage of tubular presentation of data?
- A. enables easy location of required figures
- B. makes for easy comaprison of figures
- C. occupy more space than mathematical equations
- D. showa wether the figures are increasing or decreasing