Exclusions that makes Gross National Product a poor measure of welfare are?

• A. goverment purchases
• B. government millitary outlays
• C. wages and salaries
• D. house wives services

If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?

• A. $0.05 = N1.00
• B. $0.06 =N1.00
• C. $0.11 =N1.00
• D. $0.12 =N1.00

An increase in money supply, other things being equal, will?

• A. lower interest rates
• B. reduce income
• C. ensure trade balance
• D. increase money demand

Public debt is composed of?

• A. internal debts and World Bank loans
• B. money owed to local and foreign contractors
• C. internal and external debts
• D. loans granted by IMF and ADB

A central argument of cardinal utility is that utility is?

• A. measurable
• B. psychological
• C. ranked
• D. intangible

A persistent rise in the general level of prices implies?

• A. an increase in some prices
• B. a one-time rise in prices
• C. a steady fall in the purchasing power of money
• D. that the higher the price level, the more the value of money

(i) What and how much will be produced (ii) How will it be produced (iii) For whom will it be produced (iv) How much will be exported and consumed?

From the above, identify the combination of basic resource allocation questions in economic analysis.

• A. i, ii and iii
• B. i, ii and iv
• C. i, iii and iv
• D. ii, iii and iv

A capital market differs from the money market in that in the former?

• A. loan sought is short term
• B. loan reayment is guaranteed
• C. loan sought is long term
• D. the percentage of interest chargedis more

The age distribution of a country's population determines the?

• A. ratio of the dependent to the working group
• B. total age of all working class adults
• C. male-female ratio
• D. percentage of married women

The marginal product X is

• A. 18
• B. 20
• C. 24
• D. 25