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Category: ECO122

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ECO122

1 / 50

British Colonial Officials established the __________ in 1912

2 / 50

National income accounting provides economists and statisticians with detailed information that can be used to track the health of an ___________

3 / 50

When exchange rate fall, import demand becomes _________

4 / 50

The two types of taxes are _____ and _____ tax

5 / 50

In ____ Nigeria's first bank, the African Banking Corporation, was established

6 / 50

Central bank of Nigeria began Operations in ___________

7 / 50

A rise in domestic inflation can plunge the economy into ____________

8 / 50

When exchange rate rises, import demand is __________

9 / 50

Net exports can be seen as __________

10 / 50

_______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort

11 / 50

Nigeria first bank the African banking corporation was established in ___________

12 / 50

Nigeria's first bank, the African Banking Corporation, was established in _____

13 / 50

The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ___________

14 / 50

Consumption, Savings and Investment is the theory of __________

15 / 50

______ is a situation when you hold money for investment purposes

16 / 50

A rise in exchange rate when domestic currency rises relative to foreign currency is called __________

17 / 50

Economists take the study of money seriously because evidence suggests that ___________

18 / 50

The Personal Consumption is the largest part of _________

19 / 50

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

20 / 50

If import is greater than exports it is called _________

21 / 50

Economic growth is defined as the process whereby the ________ of a country increases over a long period of time

22 / 50

The first generation bank were banks that were licensed before _______

23 / 50

According to Keynes, full employment means the absence of ___________

24 / 50

Positive net export that is current account surplus can be used to recover the economy from __________

25 / 50

The second generation banks were bank licensed between ________ years

26 / 50

A fall in exchange when domestic currency falls relative to foreign currency is called ___________

27 / 50

Mr Olusanya Samuel an American consumer intends to buy Nigeria product worth of N1000.00, given that exchange rate is 50, so the amount of dollars he need for the transaction is ________

28 / 50

Developing countries stand to gain from international trade because __________

29 / 50

______ tax is a situation where tax rate reduces as the size of income increases

30 / 50

In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _________

31 / 50

Per capital income is defined as the ratio of a country’s income to its __________

32 / 50

Gross Private Domestic investment is a relatively specific measure of __________

33 / 50

Finance and insurance services represented more than ______ of Nigeria's GDP in 1988

34 / 50

Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual _____________

35 / 50

______ an institution which accepts deposits, makes business loans, and offers related services

36 / 50

International prices affects ___________

37 / 50

If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax

38 / 50

_____ tax is levied proportional to the tax base or income of the individual

39 / 50

British colonial officials established the West African Currency Board in __________

40 / 50

The factor that affect trade flows is the changes in ________

41 / 50

Gross Private domestic investment equals consumer spending plus investment plus government spending plus _________

42 / 50

Given that the amount of naira needed when we want to buy $100 worth of  US and the exchange rate falls to $50 and product given that exchange rate is N500.00, the amount of  naira needed is __________

43 / 50

Macroeconomics as the field of economics that studies the behavior of the ___________

44 / 50

The gross domestic product is the summation of all the values of goods and services produced in a country by the ___________ and non-nationals

45 / 50

If exports is greater than imports it is called __________

46 / 50

Gross Private domestic investment measures is used to calculate ___________

47 / 50

The graph that shows the relationship between consumption and income is __________

48 / 50

The first generation bank in Nigeria were licensed before ___________

49 / 50

Net exports equals ____________

50 / 50

Mr Afees Oyebo purchase a machine tool at N3,000,000 and an ad valorem tax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machine tools.

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