ECO 122 (CBT 5)

A fall in domestic inflation will help the economy to recover from recession through ___________

Decrease in net export

Decrease in net import

Increase in net export

All of the options

Which of the following is a central issue in macroeconomics?

The deregulation of the banking industry

Inflation of prescription drug prices

The effect of excise tax on consumers' buying patterns

None of the options

The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called ___________

Gross Nation's Product

Gross National Product

Gross Domestic Product

Gross Investment Product

Which of the following is a primary function of money?

To serve as an encouragement to work

To serve as a unit of account

To raise funds for the government

To reduce the burden of excessive imports

__________ was the one that developed and perfected microeconomics as a method of economic analysis.

Say

Robbins

Smith

Marshall

Central Bank of Nigeria began operations in __________

1952

1962

1959

1969

Mr Olusanya Samuel, an American consumer, intends to buy Nigerian product worth N1000.00. Given that the exchange rate is 50, the amount of dollars he needs for the transaction is ___________

200 dollars

100 dollars

500 dollars

20 dollars

If a machine tool is N2,000,000.00, and an ad valorem tax of 8 percent is imposed, then the tax paid is __________

N160,000

N200,000

N140,000

N240,000

The MPC is assumed to be __________

Positive

Negative

Positive or negative

None of the options

M_o in Macroeconomic modelling means _________

Import

Income-induced import

Autonomous import

All of the options

ECO 122 (CBT 5)

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