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61.
A decrease in aggregate spending in an economy will ultimately lead to
Join or view discussions on this question
A.
Boom
B.
Deflation
C.
Inflation
D.
Recession
E.
stagnation

62.
Money serves well as a store of value in an environment devoid of
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A.
unemployment
B.
bank robbery
C.
development-oriented central/reserve bank
D.
inflationary pressure
E.
substitutes like ATMs, cheques and bank draft.

63.
The ability of deposit money banks to create money is mainly affected by
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A.
reserve ratio
B.
liquidity ratio
C.
capital base
D.
monetary policy rate
E.
all of the above

64.
A document that shows the details of government revenue and expenditure in a year is called
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A.
budget
B.
development plan
C.
rolling plan
D.
perspective plan
E.
financial plan

65.
The basic fiscal relation that exists among the three tiers of government in Nigeria is
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A.
national budget appropriation
B.
State-Local Government joint account
C.
revenue allocation from the federation account
D.
federal road projects
E.
federal character principle

66.
The biggest source of government revenue in Nigeria is
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A.
Mining rents and royalties
B.
Company income tax
C.
Import duties
D.
Export duties
E.
Petroleum profits tax

67.
A major obstacle to economic development is
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A.
A rise in industrial output
B.
Low farm productivity
C.
Free trade
D.
Ineffective trade unions
E.
corruption

68.
A sustained increase in the per capita income of a country over a period of time is called
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A.
Economic growth
B.
Economic development
C.
Structural change
D.
Stagflation
E.
Sustainable income growth

69.
In recent years, Nigerian economy has been registering a spectacular growth in....... Sector in the last ten years.
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A.
agriculture
B.
education
C.
telecommunication
D.
transport
E.
distribution

70.
Nigeria, being a developing African country in the sub-Sahara, has put together a development blue-print called Vision 20:2020 which can ensure that the country becomes
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A.
one of the 20 developed countries by the year 2020
B.
an African economic ‘Tiger’ by the year 2020
C.
one of the 20 largest economies in the world by the year 2020
D.
one of the 20 largest economies in sub-Saharan Africa by the year 2020
E.
one of the 20 largest economies in the developing world by the year 2020

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