Q1 _________________is what sellers generally accept and buyers generally use to pay for goods and services
Q2 A loan made by a bank is considered ________ .
Q3 __________________ of an asset that can be used to transport purchasing power from one period of time to another.
Q4 ____________is a graph of all combinations of interest rate and output that results in goods market equilibrium
Q5 A cut in the tax rate designed to encourage investment is an example of_______________.
Q6 A retail bank _____________________ .
Q7 An example of a transfer payment is __________________.
Q8 An increase in government spending or a reduction in net taxes aimed at increasing aggregate output maybe referred to as_____________________.
Q9 An underdeveloped economy is characterized by _____________________.
Q10 Business cycle in economics refers to the ______________
Q11 Cash payments made by the government to people who do not supply goods, services, or labour in exchange for these payments are known as ____________________ .
Q12 Economists say that there is unemployment when ____________________________.
Q13 Equilibrium in IS-LM Model depicts that_________________________.
Q14 Exchange rates for one currency against another currency, are known as _____________.
Q15 Fiscal policy is the government programme with respect to a country’s _________________.
Q16 Fiscal policy refers to ______________________.
Q17 Fiscal policy refers to ____________________.
Q18 Gross national product measures the value of ________.
Q19 Human capital refers to ______________________.
Q20 If injections are less than withdrawals at the full-employment level of national income, there is __________________________.
Q21 If real GDP is growing more slowly than the rate of population growth, then, ceteris paribus, the average standard of living is ___________________ .
Q22 Imports for any economy are considered as ____________________.
Q23 In economics and money demand, the terms M1 and M2 are also known as______________.
Q24 In economics investment always refers to_______________________.
Q25 In the circular flow of income, Keynesian equilibrium obtains when
Q26 In the equation C = a + bY, which describes the aggregate consumption function, 'a' stands for _______________________.
Q27 In the long run, economic growth is determined by all of the following except________________ .
Q28 Keynes conjectured that the marginal propensity to consume is___________________.
Q29 Keynes opined that macroeconomic equilibrium is attained when __________________.
Q30 Macroeconomics as a separate branch came to be studied after the contributions of which economist?_________________.
Q31 Macroeconomics is a study of economics that deals with which 4 major factors______________.
Q32 Macroeconomics is the branch of economics that examines the economic behaviour of aggregates except ___________________.
Q33 Nominal values are measured in ________
Q34 Per capita income is obtained by dividing National Income by ________________.
Q35 Real values take account_________________.
Q36 The circular flow of income diagram shows______________________.
Q37 The development of money as a medium of exchange which has facilitated the expansion of trade is called _________.
Q38 The diagram that shows the income received and payments made by each sector of the economy is known as ____________________ .
Q39 The fall (rise) in value of one currency relative to another is ____________________.
Q40 The idea that government's fiscal policy can be used to stabilize the level of output and employment can be attributed to which of the following economists: ____________________
Q41 The index used most often to measure inflation is the _______________________.
Q42 The main disadvantage of using money as a store of value is that ______________
Q43 The main reason that people hold money to buy things is referred to as the___________________.
Q44 The major lesson of the circular flow diagram is that _________________
Q45 The number of times a unit of money exchanges hands during a unit period of time is known as ________________________.
Q46 The objective thrust of a government to seek a balance of employment, demand-supply, and inflation, is known as: _______________________.
Q47 The phase of gradual fall in income, output and employment is _________________.
Q48 The ratio of reserves to the total of deposits is the:________________
Q49 The situation in which the imports are greater than exports is termed as ________________.
Q50 The study of how wages are set for university lecturers would be considered as: __________________.
Q51 The total market value of all final goods and services produced within a given period by factors of production located within a country is_____________________________.
Q52 These are categories of expenditures that make up GDP are except________.
Q53 What are Capital goods? ____________________.
Q54 What are consumption goods? ____________________.
Q55 What does the term Gross investment mean while denoting a nation's economy?_________________.
Q56 What is "MPC" or the 'marginal propensity to consume'? _____________________.
Q57 What is the accounting record of a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? __________________
Q58 What is the Gross National Product minus the depreciation?____________________.
Q59 What is the reserve deposit ratio (rdr)? ___________________________.
Q60 What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad?____________________.
Q61 What is the term in economics for the consumption of fixed capital?___________.
Q62 When a country experiences a negative gross domestic product for the period of six months consecutively, such economy is said to be experiencing _________________.
Q63 When the exchange rate falls this is called _______________.
Q64 When unanticipated inflation occurs regularly, the degree of risk associated with investments in the economy ____________________.
Q65 Which among the following is considered to be the most liquid asset? _________________.
Q66 Which market does the IS curve reflect? _______________________.
Q67 Which Nigerian city is known as its trade and financial capital?____________________.
Q68 Which of the following activities is one of the responsibilities of the Central Bank of Nigeria?______________________.
Q69 Which of the following benefits from inflation?_______________.
Q70 Which of the following denotes an underdeveloped economy? _________________.
Q71 Which of the following explains the term economic growth? ____________________.
Q72 Which of the following factors does not explain sustained economic growth?_______________.
Q73 Which of the following is a withdrawal from the circular flow of income? ____________________.
Q74 Which of the following is an injection from the circular flow of income?___________________.
Q75 Which of the following is NOT an advantage of floating exchange rates? _______________________.
Q76 Which of the following represents an action by the Central Bank of Nigeria which is designed to decrease the money supply? _______________________.
Q77 Which of these is NOT a cause of economic growth ______________.
Q78 Who is credited with bringing the term "the invisible hand" in Economics? ___________________.
Q79 Within the circular flow of income, injections are composed of these except _____________.
Q80 The intercept of consumption function exhibits that________________________.
Q81 A monopsony is
Q82 If the income effect resulting from a change in the price of leisure is zero, the individual’s supply curve of labor is
Q83 A firm in a competitive market will continue to hire inputs until
Q84 In the short run, a firm’s FC
Q85 An input is “technically efficient”
Q86 That the perfectly competitive firm will pick a combination of inputs where the ratio of each input’s marginal product to its price is equal follows from
Q87 If the allocation of inputs is production-efficient then
Q88 Which of the following would cause the demand curve for an input to shift?
Q89 The equilibrium price in cournot duopoly model will be
Q90 In an Industry with with a dominant firm
Q91 A juice seller noted the following data . as the price of fresh strawberry decreased from N1 to N0.75 per basket., the number of can of “youjuice” purchased per week increased from 60 to 100. Calculate the cross elasticity of demand
Q92 The locus of Pareto optimality in production and consumption is given by
Q93 Which of the following is not a necessary condition for a Pareto efficient allocation of resources
Q94 An ethical or value judgment must be made in order to derive
Q95 In general equilibrium
Q96 A firm’s product with external costs (negative externalities) means
Q97 Assume that an additional worker costs you 500 / hour, and that person can add 30 units of output to the firm, you should hire that person as long as
Q98 The enactment of minimum wage law by government which is above the current wage rate would
Q99 In resource market
Q100 When leisure is an inferior good to a worker, the worker’s supply curve for labor is
ENT308 List of Questions Latex formatted questions may not properly render Q1 Many expert believe_______ is a necessary condit...
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